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Only half of the calories produced on croplands are available as food for human consumption
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What they fail to mention is that crops are usually graded with best to mid quality going to humans and low quality going to other purposes like animal feed.
Even without that culling, half the calories are not calories humans can process. We can’t digest stalks of corn or wheat, for example. Various livestock animals can digest biomass that would otherwise go to waste.
And it can also be used to make ethanol.
There's actually very little waste in agriculture, and even in ranching. Hell, cows that die in the field of natural causes can still be 100% processed.