The group will be dedicated to promoting clean, green ethanol as America's best renewable fuel that is high-tech and homegrown, reducing greenhouse gas emissions and the nation's dependence on foreign oil.

The group is also launching a new advertising campaign "to set the record straight on food prices."

The campaign comes at a time when corn prices have fallen by more than 50pc and oil prices have been tumbling, while food prices continue to soar.

Yet, the group points out, US cost of food has increased at the brisk clip of 7.6pc in the past year - the worst rate in nearly 20 years.

The US Bureau of Labor Statistics reports that the price of basic foods in the US is currently rising at twice the rate of inflation.

It is expected to continue to rise in the future.

Milk prices increased by 13.3pc; cheese by 12.5pc; eggs by 29.9pc; and bread by 14.7pc from March 2007 through March 2008.

A statement from Growth Energy claims Big Food is harvesting profit growth from these higher prices.

Kraft's revenues, for instance, increased nearly 20pc from the year-earlier period and saw net income shoot up in the third quarter to $1.4 billion.

Sales at Kellogg's climbed 9.5pc and third-quarter net income increased to $342 million, up from $305 million the year earlier.

Dave Vander Griend, CEO of ethanol group ICM, says, "Our current low priced corn, high-priced food economic situation shows that the experts were right — biofuels production does not lead to increased food costs."

In related news, today US National Farmers Union president, Tom Buis, called on the US Congress to again hold hearings to re-examine the cause of high food prices.

Congress previously held hearings this spring with many concluding high food prices were the result of high commodity prices.

Since that time, however, commodity prices have fallen while retail food prices remain high.

Mr Buis said previous testimony had unanimously blamed the rising cost of agricultural commodities and renewable fuels for increased retail food prices.

"This portrayal of retail food prices is finally being proven inaccurate by recent market conditions," Mr Buis said.