Climate Disasters Trigger Food Price Explosions Worldwide From Rice to Coffee
International scientists have identified significant price increases across global food markets following extreme climate events since 2022, affecting products ranging from South Korean cabbage to Brazilian coffee. Research released Monday documented numerous examples of climate-related food price surges, including a 280 percent spike in global cocoa prices in April 2024 after heatwaves struck Ghana and the Ivory Coast, and a 300 percent increase in Australian lettuce prices following 2022 floods. Most price increases occurred shortly after heatwave events. South Korea experienced a 70 percent cabbage price increase in September 2024, while Japan saw rice prices jump 48 percent in the same month. India faced an 81 percent potato price surge in early 2024, all following extreme heat conditions. Drought conditions also triggered significant price movements. A 2023 Brazilian drought preceded a 55 percent increase in global coffee prices the following […]