Climateflation Drives Global Food Prices Higher as Extreme Weather Hits Farms
Climateflation Drives Global Food Prices Higher as Extreme Weather Hits Farms

Extreme heat, droughts, and floods are devastating farmers worldwide, leading to soaring food prices and changing consumer habits, a phenomenon dubbed 'climateflation'. In the UK, a Kent livestock farmer reported a 50% drop in hay crop due to missing spring rains, mirroring widespread concerns among British farmers about erratic weather affecting livelihoods.

Globally, last year saw heatwaves wipe out onion crops in India and cocoa in Ivory Coast, while wildfires and heatwaves across Europe damaged olives, citrus fruits, and vegetables. These supply chain disruptions are driving up food costs for consumers, according to Dr Maximilian Kotz, a researcher at Barcelona Supercomputing Center.

In the EU, average annual crop losses are expected to increase by up to two-thirds by 2050, per analysis by the European Investment Bank and European Commission. UK retailers warn that hot weather is already pushing up prices for staples like cereals, potatoes, carrots, and broccoli.

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The impact extends beyond Europe: shrivelled cacao pods in west Africa due to extreme temperatures have contributed to global price hikes. Kotz notes that this phenomenon is now visible not just to researchers but to industry insiders and consumers alike.

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