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Everyone is worried about the skyrocketing inflation , but this inflation will worsen in the coming years. The main reason for this will be climate change and its impact. Researchers at Germany's Potsdam Institute for Climate Impact Research (PIK) said that despite ambitious climate policies, consumer food prices will increase by 2.45 times in low-income countries by 2050. During this period, producer prices will increase by 3.3 times. Farmers will be less affected by the increase in consumer prices in low-income countries, but it will still be difficult for people in these countries to buy adequate and healthy food. That is, inflation will have a widespread impact on people. Experts say that the impact of rising inflation across the world will also be visible in India.
Farmers are getting very little share
"In high-income countries such as the US or Germany, farmers receive less than a quarter of food expenditure, compared with more than 70 per cent in sub-Saharan Africa, where farming costs account for a large share of food prices," said David Meng-Chuen Chen, a PIK scientist and lead author of the study published in Nature Food. "This difference underscores how differently food systems work in different regions," he said. The researchers speculated that as economies develop and food systems industrialise, farmers will receive a lower share of consumer expenditure.
Research was done on 136 countries
For the analysis, the researchers evaluated food price components across 136 countries and 11 food groups using statistical and process-based models. Analyzing entire food value chains also helped the researchers understand how policies aimed at reducing greenhouse gases affect consumers. Climate policies aimed at reducing emissions in agriculture often raise concerns about food price increases, Chen said. The long supply chains of modern food systems protect consumer prices from steep increases, according to the analysis.
