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What is heatflation? How does it affect the food industry?

Everyone is familiar with the word inflation. Shrinkflation (companies reducing the quantity of certain products) is also a term we have heard frequently recently. But have you heard of Heatflation?

What is heat inflation?

Climate change and the resulting hot weather and extreme climatic events directly affect agricultural activities. As a result, production is adversely affected, sometimes there are serious crop losses and production, i.e. product supply, decreases.

Heatwaves could drive up food prices – but scientists are working on a solution

Food prices may increase further as an unprecedented heatwave wilts Europe’s crops and British farmers face cool, rainy weather, experts have warned.

Although temperature is not the direct cause of damage to agricultural products, the above-mentioned extreme temperatures above 40 C have a permanent effect on food production. When less crops are harvested due to hot weather compared to the needs, expectations and production activities, this leads to a spike in food prices, i.e. inflation.

What can be done to protect food security in the future?

As extreme high temperatures and drought continue to adversely affect food production, it is becoming increasingly clear that measures need to be taken to build more resilient food systems and protect future food security. With this in mind, the World Economic Forum (WEF) has detailed a series of actions that countries can take to mitigate and combat the effects of the heatwave. These steps are listed as follows:

– Invest in more resilient agricultural practices, such as drought-resistant crops and irrigation systems.
– Diversify food production so that we are not dependent on a few staple crops.
– Reducing food waste so that we can make the most of the food we produce.
– Support policies that promote food security, such as subsidies for farmers and food banks.

About İsmail Uğural

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