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In response to biofuel policies, the impacts of biofuels are very controversial. In particular, biofuels have been universally blamed for recent food price increases. In this paper, we review the recent but growing literature on the topical trade-off: fuel vs. food. First, we present biofuel policies as well as the different types of biofuel. Then we analyze the different economic studies dealing with biofuels and their economic impacts on agricultural markets.