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Climate change may cause steeper wheat price spikes and economic inequality

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Rising temperatures are harmful to wheat yields. However, crop yields do not provide a holistic vision of food security. The impacts of climate change on wheat price, livelihood and agricultural market fundamentals are also important to food security but have been largely overlooked.
August 19, 2022

Rising temperatures are harmful to wheat yields. However, crop yields do not provide a holistic vision of food security. The impacts of climate change on wheat price, livelihood and agricultural market fundamentals are also important to food security but have been largely overlooked.

An international research team has now estimated the comprehensive impact of climate change and extreme climate events on global wheat supply and the demand chain in a 2 ℃ warmer world by using a novel climate-wheat-economic ensemble modeling approach.
The effect of CO2 fertilization could cancel out temperature stress on crops, with a slightly greater wheat yield under 2 ℃ warming as a result. However, increases in global yield do not necessarily result in lower consumer prices. Indeed, the modeling results suggest that global wheat price spikes would become higher and more frequent, thus placing additional economic pressure on daily livelihood.
The findings, by scientists from six countries, were published in One Earth on August 19.

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