BRUSSELS, Belgium (AP) — Europe and the U.S. must reconsider their biofuel policies because of rising food prices around the world, aid officials and food policy experts said Thursday.

Speaking at an international conference on food supplies, many also warned that some countries' restrictions on agricultural exports were severely hindering access to food and called for more investment to increase food production in the developing world.

EU agriculture commissioner Mariann Fischer Boel responded by promising to present plans next Tuesday for new financial aid to farmers in developing countries to buy fertilizers and seeds to boost production. She gave no details on the value of the package but said it would come from unspent EU farm funds.

Fertilizer prices in particular have shot up at an even faster rate than food prices over the last 18 months, making it difficult for Third World countries to increase agricultural output, the U.N. Food and Agriculture Organization said.