The severe weather phenomenon requires short -term increase in food. This has been reported by Financial Times related to research by the Barcelona supercomputer.
In particular, the cost of olive oil in European countries increased by 50% due to drought, observed in Spain by 2022 and 2023. In India, the price of onions increased by 89% due to abnormal heat. In Japan, after a hot summer, rice costs increased by 48%. In China, the price of vegetables increased by 30%. In California, after the drought in Arizona in 2022, vegetable costs increased by 80%.
According to the leading author of the study, Maximilian Kotz, many weather phenomena described without the same in history and does not comply with climate standards. According to him, this trend will only be enhanced with an increase in greenhouse gas emissions, which will make the food system more vulnerable.
Supervision shows that the sudden increase in the cost of goods and services often has global consequences, as happened with the increase in chocolate prices in the UK due to drought in Ghana and Cat-D'IVOire. According to Raja Patel, professors from the University of Texas, the situation becomes more serious by market speculation and political decisions, similar to the ban on wheat export from Russia in 2010, when hot weather leads to domestic fire.
Countries that depend a lot on imports are particularly sensitive to changes as the results of the study showed. The authors of the work asking questions about the effectiveness of measures to contain inflation that central banks of countries use. This is due to the fact that climate shocks continue to affect the food market, confirmed by an increase in inflation in the UK by 3.6% in June.