Oxfam warns of spikes in global food prices due to climate change

The organization announced on Wednesday that climate change and an increase in extreme weather, including droughts and hurricanes, are the key factors behind the staple food price hikes within the next two decades.

Oxfam added that current research into the climate change does not take into account extreme weather events.

 

“While prices could double by 2030, the modeling suggests that one or more extreme events in a single year could bring about price spikes of comparable magnitude to two decades of projected long-run price increases,” the group stated.

According to Oxfam research, which includes the negative effects of extreme whether on food prices, the price of corn in 2030 will be around 180 percent higher than in 2010.

Oxfam’s estimate also suggested that the price of wheat and rice will increase by more than 100 percent.

“As the 2012 drought in the United States shows, extreme weather means extreme food prices.”

The group suggested that while the climate change is estimated to be responsible for a third to half of the price impact, extreme whether makes the greater long-term effect on staple food prices.

Reports show that the recent drought in the US increased global food prices by 10 percent in July, with corn prices soaring by 25 percent and expected to rise further.

Meanwhile, Oxfam urged immediate action to reduce greenhouse gas emissions and called on developed countries to increase funding for adapting to climate change.