Climate change will cause food prices to rise further

By: Trademagazin Date: 2024. 07. 17. 12:45

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Significant changes are to be expected in Hungary’s agriculture in the next decade as a result of climate change. According to a recent study by the Potsdam Institute for Climate Change Research (PIK), the rising average temperature and extreme weather events may exert significant inflationary pressure on food prices, which may increase food inflation in Hungary by up to 3.2 percentage points per year until 2035.

The sweltering heat can already be felt in everyday life, the air temperature has reached 40 degrees Celsius in some places in recent days. The changing climate conditions are creating new challenges in many areas, from healthcare to agriculture, reports the Agrársektor.

Agricultural adaptation and strategy

According to OTP Bank’s agricultural experts, although the challenges are significant, an advantage can be gained from the situation with strategic planning and adaptation measures. According to István Szabó, head of OTP Bank’s Agricultural Sales Department, domestic agricultural entrepreneurs can find ways to take advantage of changing climate conditions.

On the one hand, the warming climate makes it possible to grow new types of plants that were not viable in Hungary before. An example is the County of Zala, where they are already experimenting with kiwi cultivation. On the other hand, more conscious management of input materials, soil protection measures, the use of precision procedures and irrigation investments can also contribute to increasing the sustainability of agricultural production.
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