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illuminem summarizes for you the essential news of the day. Read the full piece on TIME or enjoy below:
🗞️ Driving the news: Climate disasters are increasingly causing global food price spikes
• Severe droughts in Spain slashed the olive harvest by 40%, pushing up U.S. olive oil prices by 27%, while extreme weather in West Africa has driven up chocolate prices
• Wheat production, particularly in Argentina, has also been hit, causing volatility in global supply chains and higher consumer costs
🔭 The context: Argentina's wheat crops have suffered from severe droughts, leading to price increases for wheat-based products like pasta and bread
• The situation is worsened by the ongoing Russia-Ukraine conflict, which has already stressed global wheat supplies
• Rising food costs impact not just daily meals but also larger budgets, forcing families worldwide to make difficult financial decisions
🌍 Why it matters for the planet: Climate change is exacerbating food insecurity globally, with extreme weather events reducing crop yields and disrupting supply chains
• The resulting price hikes disproportionately affect lower and middle-income consumers, increasing inequality and food scarcity
⏭️ What's next: To combat these challenges, experts suggest the creation of Supply Chain Climate Adaptation Plans (S-CAPs) involving international cooperation
• These plans would aim to build resilience in global food supply chains by investing in climate-resistant crops, diversifying transport methods, and improving hazard detection technologies
💬 One quote: "We need to fundamentally rethink our approach to supply chains to ensure affordable, available food for all," says the author, an entrepreneur focused on climate-resilient agriculture
📈 One stat: Spain's olive harvest dropped by 40%, leading to a 27% price increase for U.S. consumers in June
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