Andrew Bailey shares ‘apocalyptic’ warning about food prices
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Scorching heatwaves are currently ravaging countries around the world, as threats of wildfires, droughts and dehydration hit nations from the UK and Western Europe to China. There have been over 30 forest fires around Spain, forcing thousands of people to evacuate and around 173,00 acres scorched. Meanwhile in Italy, experts have warned that heatwave will destroy at least a third of the country’s harvest of rice, corn, and animal fodder.
As a result, this heatwave is now set to worsen the global food crisis, which began following Russia’s invasion of Ukraine, as both countries, which are major exporters of wheat, halted supplies to the rest of the world.
While Moscow is unable to export grain due to Western sanctions, Russian forces have blockaded Ukraine’s ports from exporting.
Because of the food shortages, the EU Commission had recently downgraded its soft-wheat harvest estimates from 130 million tons to 125 million tons.
While Russia’s invasion may have played a major role in the food crisis today, Mr Schimtz warned that climate change is only going to make this crisis worse.
Speaking to Grist, Bob Keefe, the executive director of the business group Environmental Entrepreneurs said: “I think climate change has contributed to our current economic problems a lot more than people think.
“Look at food costs. We all know our grocery bills are going up.
“Part of the reason is that when you lose crops to storms or drought or flooding, prices are going to go up.
“And right now everything from cornflakes to chicken is going up.”
Extreme heat is creating similar problems across the world in China, as a heatwave is causing roofs to melt, and even forcing people into underground shelters for cooling.
According to the Central Meteorological Observatory in Tokyo, the intense heat could ravage the production of crops like corn soy, which are used to feed pigs.
The rising temperatures have already begun causing early season failure that are leading to eye-watering prices of pork, Beijing’s staple meat.
The food crisis caused by Russia’s invasion is already hitting the pockets of everyday Britons.
Annual grocery bills are going to jump by £380 this year, with food price inflation hitting a fresh 13-year high.
Writing in the Hill, David A. Super, a professor of law and economics at Georgetown said: “If we wish to control inflation, we must address climate change now.
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“Because climate change affects prices across many sectors, its impact is easy to miss.
“Think of a simple loaf of multigrain bread. If the bakery typically gets its wheat from a semi-arid region now undergoing a full-blown drought, finding an alternate supply will cost more.
“Perhaps the oats come from another region that has experienced flooding, destroying half the crop.
“With the same number of bakers competing for half as many oats, they will inevitably bid up the price.”
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