Commodities
Warming World Could Triple Global Wheat Prices
A new climate study found that global wheat prices could triple by 2030 if the planet warms by 3°C, making it more challenging for low-income households to afford food.
Researchers built a model linking worsening water shortages directly to global wheat prices and discovered that about three-quarters of wheat's year-to-year price swings can be explained by this connection.
The study projected that by the 2030s and 2040s, wheat prices could run 50% to 70% higher than between 2001 and 2020. A 3°C warmer world would lead to a tripling of global wheat prices compared to 2010 levels.