Onion, potato prices in India rose by 80 pc in 2024 due to climate change: Study

Food prices in India saw a sharp rise in 2024 due to an unusually severe heatwave with onion and potato prices jumping by more than 80 per cent in the second quarter of the year according to a new studyThe study led by Maximilian Kotz of the Barcelona Supercomputing Centre and involving researchers from the European Central Bank Potsdam Institute for Climate Impact Research and the UKs Food Foundation investigated 16 extreme weatherdriven food price shocks across 18 countries between 2022 and 2024It found that many of these events exceeded all historical precedents before 2020 and were strongly influenced by global warmingIn India the price of onions and potatoes jumped by over 80 per cent in the second quarter of 2024 after a heatwave in May a largely unique event that was made at least 15 degrees Celsius warmer by climate change the researchers saidThe year 2024 was the hottest on record and the first with a global average temperature 15 degrees Celsius above preindustrial levelsIn India extreme heat in May severely affected crop yields and supply chains contributing to high inflation in essential vegetablesThe study warned that such food price shocks could worsen health outcomes including malnutrition and chronic diseases and increase economic inequalityRising food prices have direct implications for food security particularly for lowincome households When the price of food shoots up lowincome families often have to resort to less nutritious cheaper foods Diets like this have been linked to a range of health conditions like cancer diabetes and heart disease Kotz saidThe researchers said food price inflation due to climate extremes may also raise headline inflation making it harder for central banks to maintain price stability especially in developing countries where food has a larger share in household budgetsThe study said that in Ghana and Ivory Coast global cocoa prices increased by around 280 per cent by April 2024 after a February heatwave The heat was made 4 degrees Celsius hotter by climate changeIn Brazil and Vietnam heatwaves and drought led to a 55 per cent rise in Arabica coffee prices and a 100 per cent rise in Robusta pricesIn the European Union olive oil prices rose 50 per cent yearonyear by January 2024 after a drought in Spain and ItalyIn the United States vegetable prices increased by 80 per cent in November 2022 due to a drought in California and ArizonaThe researchers called for urgent measures to reduce greenhouse gas emissions and warned that without climate action such food shocks will become more frequentUntil we get to netzero emissions extreme weather will only get worse and it is already damaging crops and pushing up the price of food all over the world Kotz saidThe study also recommended that governments and central banks use seasonal climate predictions to anticipate food price shocks and prepare targeted supportIt cited an HSBC analysis showing that temperatures are now a better metric for forecasting food prices across India compared to reservoir levelsThe study was released ahead of the UN Food Systems Summit Stocktake on July 27 cohosted by Ethiopia and Italy both of which also experienced food price shocks due to climate changeThe researchers said food affordability must become a policy priority to prevent wider health and political impactsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever