Global Warming Or Food Supply?

Current average food prices in the world have gone up by 50%.

There are two main contributing factors towards it:
1) Increase in demand of bio fuels- made to counter global warming.
2) Several weather related crop failures in US, India, East Europe and of course, Australia- caused by global warming.

Corn crops in areas surrounding US, esp Mexico are being sold to higher paying bio fuel manufacturers creating a shortage for the average man who was simply eating his corn. Also, put in the fact, that farmers who used to traditionally grow wheat are switching over to corn to capitalize on the gains (And no, this switch over is not negating increased demand as it is substantially high)

This has simply increased the food crop prices not only in corn but across a spectrum of eatables.

MAYBE this demand wouldn't have affected us so much if the world as a whole hadn't had a series of droughts and severe weather. But well it did. And it will again.

I haven't researched into biofuels myself; however, a friend who was looking into investing in it found that there isn't a lot of profit related to this venture. Maybe it does in the US where most margins are higher.

Biofuel initiative in India also seems to be catching on fast with multiple companies investing in the land being given away by the government for Jathropa plantations. But after talking to only a handful, I found that these people do not intend to do anything with this land. It is, for them, only an investment to gain control of land which maybe in the distant future become valuable.

Coming back to the topic, biofuels are part of the solution experts have been offering to fight global warming. However, as we see above, biofuels are partly responsible for the same.

So, the question again comes- which is more important Global warming or food supply?

Fine, I know I am being overtly dramatic. But it is something for us to think about, is Biofuel really the best option for us right now?