The food industry has become much more efficient in the last few decades as a result of globalization, but also a lot more vulnerable to shocks. Climate change will lead not only to increased temperatures, but the extreme weather it causes in North, South America and Asia are likely to also lead to global food shortages. Severe production shocks, with the food shortages, price spikes and market volatility that come with are likely to become three times as usual than today, according to a joint report by a US-British task force. These are likely to occur every 30 years by 2040. The Task force on Extreme Weather and Global Food System Resilience estimated that due to a rise in the world population from 7.3 billion to 9 billion in 2050, food production will need to increase by more than 60 percent and climate-linked market disruptions could lead to civil […]