December 2, 2010

US study shows climate change may increase crop prices
 

Global warming may cause the price of crops including corn and wheat to increase at least two-thirds by 2050, according to a study by the US' International Food Policy Research Institute.

Climate change adds to existing upward pressures on food prices, including greater prosperity in developing nations and a growing global population, Gerald Nelson, co-author of the report, said.

"Climate change is a threat multiplier of the challenge facing us," Nelson said. "In the context of food security, climate change represents about 20% of the larger challenges of food security facing us caused by higher population and income growth in the developing world."

When adjusted for inflation, corn prices will rise by 42%-131% by 2050 but it depends on the level of warming, and economic and population growth, according to the study.

Drought in Russia and floods in Pakistan have already caused food shortages this year and those phenomena offer a glimpse of a future negatively affected by adverse weather, the institute said. Hence, taking actions to lessen poverty will help people around the world become more resilient to climate chocks, the report said.