Latest news with #Kotz
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First Post
2 days ago
- Business
- First Post
Are your grocery bills rising? Barcelona researchers say they have found the reason
Have your grocery bills gone up? Besides the local inflation trends, researchers now point to a more potent disruptor — climate change — that is making your plate more expensive read more Consumers around the world may not realise that their rising grocery bills have less to do with local inflation or supply chain issues and more to do with extreme weather conditions globally. A new study from the Barcelona Supercomputing Center, in collaboration with the European Central Bank, points to climate change as a critical driver of food price increases across continents. The research team traced spikes in food costs sometimes by hundreds of percent to weather patterns that are becoming more frequent and intense. STORY CONTINUES BELOW THIS AD Rather than isolated incidents, the researchers described these price shocks as directly linked to 16 extreme weather events between 2022 and 2024. The analysis, which appeared in the peer-reviewed journal Environmental Research Letters, emphasised that many of these events were statistically unprecedented in their regions. Max Kotz, the lead author and a postdoctoral fellow, noted that events like heatwaves, floods and droughts are now pushing agricultural systems beyond their limits. A global phenomenon with local consequences Across the globe, basic food items have surged in price following disruptive weather events. In the United States, vegetable prices soared more than 80 percent after California endured its driest three-year period ever recorded. The Bloomberg reported that nearly a million acres of farmland were left unplanted, causing crop losses of nearly $2 billion. Arizona's reduced water supply from the Colorado River compounded the crisis, while Hurricane Ian disrupted Florida's harvests. In Eastern Australia, record-breaking floods in early 2022 triggered a lettuce shortage that pushed prices up by more than 300 percent. The retail cost of iceberg lettuce skyrocketed from around A$2.80 to A$12. Some fast-food outlets even resorted to substituting cabbage in burgers to maintain menus. Similar trends were seen in Asia, where scorching heat reaching 115°F (46.1°C) led to a 40 per cent rise in Chinese vegetable prices over just three months. In South Korea, napa cabbage, vital for making kimchi — became 70 per cent more expensive. Local reports described government efforts to release national cabbage stocks to stabilise the market. Climate inflation: A persistent threat? While food prices often stabilise after temporary spikes, the researchers cautioned that climate-driven price hikes could become more routine. The authors suggested that El Nino patterns between 2023 and 2024 may have intensified certain weather extremes, but emphasised that the broader trend is one of increasing volatility. Kotz explained that price responses tend to materialise within one to two months after a climate event, especially when heat or drought significantly lowers output. While economists have pointed out that food prices often normalise as higher prices incentivise greater production, this cycle may not hold for all crops. For instance, commodities like coffee and beef are geographically limited, meaning that prices stay elevated longer and are more vulnerable to recurring disruptions. A compound effect on households and central banks These climate-linked price hikes are more than just inconvenient — they carry major implications for household budgets and monetary policy. According to the nonprofit Energy and Climate Intelligence Unit, British households paid an additional £361 (approximately $484) for food in 2022 and 2023 due to climate-related factors. This figure highlights how vulnerable everyday consumers are to forces far beyond their control. With central banks around the world working to tame inflation, the unpredictable nature of climate-driven food prices poses a serious challenge. Kotz and his colleagues stressed that unless systemic changes are made, these shocks will continue to impact both consumer affordability and economic stability. The wider web of climate impacts on agriculture A broader look at climate change's effects on food prices reveals an interconnected series of pressures. Rising temperatures and changing precipitation patterns reduce crop yields, while unpredictable growing seasons disrupt harvest timing. Water scarcity, a growing concern in regions like the American Southwest, limits irrigation and further diminishes supply. The resurgence of crop pests and plant diseases under warmer climates can force farmers to increase pesticide use, raising production costs. Meanwhile, extreme temperatures also affect livestock, reducing milk yields and increasing mortality rates further driving up the cost of meat and dairy products. STORY CONTINUES BELOW THIS AD Infrastructure-related issues, like increased fuel prices or transportation disruptions due to weather events, add another layer of inflationary pressure. Even regulatory responses to climate change — such as stricter environmental rules or new tariffs — can raise operational costs that trickle down to the consumer. What can be done? The Barcelona study recommends a combination of early warning systems, agricultural adaptation strategies like improved irrigation, and robust government policies to mitigate food insecurity. However, the authors cautioned that even well-designed responses have limitations. Ultimately, the researchers suggested that the only long-term solution lies in addressing the root of the problem — greenhouse gas emissions. Without a concerted global effort to curb warming, extreme weather will continue to strain food production systems. As Stevenson pointed out, additional complications like tariffs can make it difficult for producers to balance domestic and export markets, especially for high-cost items like beef. He warned that future policy missteps could further strain an already fragile system. A new normal in the aisles For many consumers, the link between a heatwave in Asia or a drought in Arizona and the rising cost of a lettuce head may not be immediately obvious. But as the evidence mounts, researchers are urging governments and the public to recognise that climate change is not just an environmental issue — it's an economic one. Whether shopping in Barcelona, Beijing or Boston, grocery bills are increasingly influenced by forces in the sky and sea. Unless climate trends are reversed, experts say, the price of food will likely continue its upward climb. STORY CONTINUES BELOW THIS AD
Vancouver Sun
2 days ago
- Business
- Vancouver Sun
From potatoes to cocoa and coffee, severe weather spikes food prices worldwide, study finds
In 2021, crops withered as Western Canadian farmers faced the worst drought in 19 years. Wheat stocks dropped 38.7 per cent year over year in its wake. By April 2022, food manufacturers were paying more than double what they were in 2020, and that cost had trickled down to consumers. According to Statistics Canada , shoppers spent more on bread (+12.2 per cent), pasta (+19.6 per cent) and cereals (+13.9 per cent) than they had the year prior. This summer, conditions are worse for farmers in southwestern Saskatchewan. Some are comparing growing conditions to the ' Dirty Thirties ,' an extended drought that ravaged crops on the Prairies. Hit with wildfires, heat waves and drought, several rural municipalities have declared states of emergency, CTV News reports. Discover the best of B.C.'s recipes, restaurants and wine. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of West Coast Table will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The impact of severe weather on Canadian wheat prices is far from an isolated case. From Japanese rice to Spanish olive oil , countries around the world have experienced similar food price spikes resulting from extreme weather events, highlights new research by a team of international scientists led by Maximillian Kotz, a Marie Curie postdoctoral fellow at the Barcelona Supercomputing Center . Published in Environmental Research Letters , the study investigated 16 foods in 18 countries over two years (2022-2024). It found that foods affected by climatic extremes (heat, drought or floods) raised prices for consumers, contributed to overall inflation and could trigger societal risks. In 2023, Kotz led a statistical analysis for the European Central Bank examining the impact of increased temperatures on inflation. The researchers studied a global dataset of monthly consumer price indexes over the last 30 years to understand how prices respond to shifting conditions. 'What we found is very strong evidence that abnormally high temperatures drive increases in the price of food and overall inflation, and that therefore, under future climate change, with heat extremes intensifying, we're going to be expecting to see more and more of these kind of increases in consumer price indexes, broadly,' Kotz said in a media briefing on July 16, adding that these findings were the starting point for the new study. While their econometric analysis confirmed that severe weather results in higher food prices, changes in consumer price indexes typically happen slowly. In contrast, the cost of specific foods can spike within one to two months of extraordinarily high temperatures or droughts. 'What's been really interesting for us scientifically is that over the last year, what we've started to see is a number of examples from specific countries where climatic extremes have caused substantial spikes in the price of specific food goods. So, not just looking at the level of an aggregate consumer price index, but for specific goods.' For example, in a phenomenon dubbed 'heatflation,' South Korean cabbage prices rose 70 per cent last year amid hot weather and drought. With water temperatures rising, seafood prices also increased due to fewer catches. The researchers began their investigations by looking at media reports from 2020 to 2025, in which industry specialists and producers documented changes in food prices. They found instances around the world. 'Compared to our analysis with the European Central Bank, that was very much a statistical approach, this was more of a narrative-based approach, relying on these experts on the ground to connect food price spikes with adverse climatic conditions. And we can see that there's a broad global context for this happening in recent years that extends all the way from East Asia through to Europe and also to North America.' After finding evidence that food price shocks associated with extreme heat, drought or heavy precipitation are widespread, the researchers analyzed the climatic conditions driving them and compared them to historical patterns. Following a May 2024 heatwave in India , for example, onion and potato prices increased by 89 and 81 per cent respectively in the second quarter of the year. In California and Arizona, vegetable prices jumped by 80 per cent in November 2022 after a drought. Given that the U.S. supplies 67 per cent of Canada's vegetable imports and 36 per cent of fruit imports, according to Kushank Bajaj , a postdoctoral research fellow at the University of British Columbia (who wasn't involved in the study) and co-creator of Canada Food Flows , the impact on consumers clearly stretches across borders. The price fluctuations of commodities such as coffee, cocoa and olive oil travel even further. In Ivory Coast and Ghana, global cocoa prices soared 280 per cent in April 2024 following a heatwave two months earlier. A team of international scientists found that this 'dangerous humid heat' was roughly four degrees hotter due to climate change. In Vietnam, the world's biggest exporter of robusta coffee, prices increased 100 per cent in September 2024 after an August heatwave. And in Brazil, the leading exporter of arabica, prices were 55 per cent higher in August 2024 following a 2023 drought. 'What we were quite interested to see was that, particularly for East Asia, last summer, really, across the continent, from India to China, Korea, Japan, there were these spikes in the price of food happening as a result of temperatures that were completely unprecedented from a historical perspective,' said Kotz. The researchers also investigated the potential societal impacts of climate-induced food price spikes, including food security and public health. When food prices go up, fruit and vegetable consumption is 'very vulnerable,' underscored study co-author Anna Taylor, executive director of the Food Foundation . 'Food-insecure households are much more likely to report cutting back on fruit and veg purchases compared to food-secure households,' said Taylor. 'That really, really matters for health, because fruit and vegetables are sort of health-giving, if you like. They are massively important for immunity, but they also create long-term protections from a whole range of chronic conditions.' In addition to contributing to overall inflation, the authors identify political unrest as another potential societal risk. 'Our paper is really a call to action for us to consider these wider effects of food price increases in response to climate change for our societies more widely, as these effects are going to continue to become worse in the future,' said Kotz. A figure in the study maps the 16 examples of climate-induced food price spikes since 2022, colour coded by degree and type of event (heat, drought and floods). 'If you looked at Max's global picture, what you'd see through the eyes of an economist is well-functioning markets,' said Raj Patel, a member of the IPES-Food panel and a research professor at the University of Texas at Austin , who wasn't involved in the study. 'The weather turns, the crop becomes less likely to come out of the ground, and prices spike. But there is a political-economic consequence for that.' The researchers note that food price volatility has been linked to political instability throughout history, such as 2011's Arab Spring and the French and Russian revolutions of the 18th and 20th centuries. 'The meaning of food price inflation is political. It's always political,' said Patel. He cites Mozambique's 2010 bread riots , the roots of which were planted in Russia, where wildfires burned during the country's worst heatwave in more than a century. A lack of firefighting infrastructure made it difficult to put them out, and the country's main growing areas were decimated. As a result, Russia imposed an embargo on wheat exports, and global prices surged. People died due to the wildfires in Russia and during protests, sparked by sky-high bread prices, on the streets of Mozambique . 'This is how a heat spike in Russia can cause deaths by live ammunition in Mozambique,' adds Patel. 'These are the kinds of arcs that we need to be looking for when we understand climate change. Because climate change isn't just, 'Oh, it's hot outside.' Climate change is always freighted with a political valence.' Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our cookbook and recipe newsletter, Cook This, here .
National Post
2 days ago
- Politics
- National Post
From potatoes to cocoa and coffee, severe weather spikes food prices worldwide, study finds
Article content Article content In addition to contributing to overall inflation, the authors identify political unrest as another potential societal risk. 'Our paper is really a call to action for us to consider these wider effects of food price increases in response to climate change for our societies more widely, as these effects are going to continue to become worse in the future,' said Kotz. Article content A figure in the study maps the 16 examples of climate-induced food price spikes since 2022, colour coded by degree and type of event (heat, drought and floods). Article content 'If you looked at Max's global picture, what you'd see through the eyes of an economist is well-functioning markets,' said Raj Patel, a member of the IPES-Food panel and a research professor at the University of Texas at Austin, who wasn't involved in the study. 'The weather turns, the crop becomes less likely to come out of the ground, and prices spike. But there is a political-economic consequence for that.' Article content The researchers note that food price volatility has been linked to political instability throughout history, such as 2011's Arab Spring and the French and Russian revolutions of the 18th and 20th centuries. Article content 'The meaning of food price inflation is political. It's always political,' said Patel. Article content He cites Mozambique's 2010 bread riots, the roots of which were planted in Russia, where wildfires burned during the country's worst heatwave in more than a century. A lack of firefighting infrastructure made it difficult to put them out, and the country's main growing areas were decimated. As a result, Russia imposed an embargo on wheat exports, and global prices surged. People died due to the wildfires in Russia and during protests, sparked by sky-high bread prices, on the streets of Mozambique. Article content 'This is how a heat spike in Russia can cause deaths by live ammunition in Mozambique,' adds Patel. 'These are the kinds of arcs that we need to be looking for when we understand climate change. Because climate change isn't just, 'Oh, it's hot outside.' Climate change is always freighted with a political valence.' Article content
Yahoo
3 days ago
- Business
- Yahoo
Climate crisis causing food price spikes around the world, scientists say
South Korean cabbage, Australian lettuce, Japanese rice, Brazilian coffee and Ghanaian cocoa are among the many foods that have been hit by price hikes following extreme climate events since 2022, a team of international scientists has found. The research released on Monday cites, among other examples, a 280 percent spike in global cocoa prices in April 2024, following a heatwave in Ghana and the Ivory Coast, and a 300 percent jump in lettuce prices in Australia after floods in 2022. In the vast majority of cases, the increase in prices came soon after heatwaves, including a 70 percent increase in cabbage prices in South Korea in September 2024, a 48 percent increase in rice prices in Japan in September 2024, and an 81 percent increase in potato prices in India in early 2024. Other price increases were linked to drought, such as a 2023 drought in Brazil that preceded a 55 percent increase in global coffee prices the following year, and a 2022 drought in Ethiopia that came before overall food prices there increased by 40 percent in 2023. The research, published by six European research organisations along with the European Central Bank, was released before the United Nations Food Systems Summit, which will be co-hosted by Ethiopia and Italy in Addis Ababa, Ethiopia, from July 27 to July 29. 'Until we get to net zero emissions extreme weather will only get worse, but it's already damaging crops and pushing up the price of food all over the world,' the report's lead author, Maximillian Kotz, from the Barcelona Supercomputing Center, said in a press release. 'People are noticing, with rising food prices number two on the list of climate impacts they see in their lives, second only to extreme heat itself,' Kotz added, noting that low-income families are often the most affected when 'the price of food shoots up'. The report comes as the cost of living, including food affordability, has been a key issue for many voters heading to elections around the world in recent years, including in Japan, where the price of rice was on many voters' minds as they headed to the polls this weekend. Grocery prices were also key election issues in the United States and the United Kingdom in 2024 and in Argentina in 2023. 'In the UK, climate change added £360 [$482] to the average household food bill across 2022 and 2023 alone,' one of the report's co-authors, Amber Sawyer, from the Energy and Climate Intelligence Unit (ECIU), said in a press release. 'Last year, the UK had its third worst arable harvest on record, and England its second worst, following extreme rainfall that scientists said was made worse by climate change,' she added. Under the UN Framework Convention on Climate Change (UNFCCC), governments have committed to cutting the global emissions that are driving the climate crisis by 2.6 percent from 2019 to 2030. However, these commitments fall well short of the reductions scientists say are needed to stay within reach of a Paris Agreement target to limit global temperature rises to 1.5 degrees Celsius (2.7 degrees Fahrenheit). The International Court of Justice (ICJ) is expected to deliver a landmark advisory opinion on states' legal obligations to address climate change on Wednesday, in a case brought by Vanuatu and backed by many Global South the daily Crossword
Business Wire
18-06-2025
- Business
- Business Wire
Atalanta Therapeutics Announces Leadership Transitions
BOSTON--(BUSINESS WIRE)-- Atalanta Therapeutics, a biotechnology company pioneering RNA interference (RNAi) for the treatment of intractable neurological diseases, announced today that Joanne Kotz has been named Chief Executive Officer and a member of the Board of Directors, succeeding Alicia Secor, who has stepped down as part of a planned transition to pursue other opportunities. The company also announced the appointment of Douglas Pagán as Chief Financial Officer & Chief Operating Officer, succeeding Jeffrey Young. Additionally, Bob D. Brown, an industry veteran with extensive RNAi drug discovery and development experience, has joined the company's Scientific Advisory Board to advise as the company advances its innovative pipeline into the clinic. "I want to thank Alicia for her extraordinary leadership of the company from formation to the cusp of entry into the clinic, as well as her continued role as an advisor through this transition,' said Dr. Stephen Knight, President and Senior Managing Partner of F-Prime and a member of the Atalanta Board of Directors. 'We are delighted to have Joanne lead Atalanta's next stage. Joanne is an accomplished leader who has demonstrated the ability to advance innovative platforms and pipelines through the transition to clinical stage, and has optimized company value creation through strong financings, partnerships and strategic transactions.' 'I'm thrilled to be joining Atalanta, which is pioneering the effort to bring RNAi therapies to patients living with devastating neurological diseases,' said Dr. Kotz. 'I am passionately committed to Atalanta's mission to deliver life-transforming therapies to patients and look forward to working with the team to transition our first programs into the clinic as we work to realize the full therapeutic potential of Atalanta's innovative di-siRNA platform.' 'Over the past six years we've made incredible scientific progress at Atalanta. I'm proud of all that we've been able to accomplish together and thank the Board and team for their support and dedication to our mission,' said Ms. Secor. 'The transition from research to clinical stage is a critical time for any biotech, and Joanne's leadership and experience is ideally suited to guide Atalanta's continued progress towards our mission of delivering RNAi medicines to patients living with severe neurological diseases.' Dr. Kotz brings to Atalanta extensive executive experience, including most recently as cofounder and CEO of Jnana Therapeutics. She led the company from an early discovery platform stage through the transition to clinical stage. Jnana was acquired by Otsuka Pharmaceutical in 2024 for ~$1 billion following the demonstration of positive clinical proof of concept for the company's lead rare disease program. Prior to Jnana, Dr. Kotz held leadership roles at FBRI, F-Prime Capital's initiative to enable therapeutic breakthroughs in Alzheimer's disease and related brain disorders, and at the Broad Institute. She is a member of the Board of Directors of the Chordoma Foundation. Dr. Kotz received her Ph.D. in chemistry from the University of California, Berkeley and a B.S. in chemistry from the University of Florida. She conducted postdoctoral research at Genentech and at the Necker Children's Hospital in Paris. Mr. Pagán brings to Atalanta more than two decades of experience in finance, investor relations, and capital formation across both public and venture-backed biopharmaceutical companies. Prior to joining Atalanta, he served as Chief Financial Officer and Chief Operating Officer at Jnana Therapeutics, where he was instrumental in securing the company's $107 million Series C financing heading into the clinic, and the subsequent ~$1 billion acquisition by Otsuka Pharmaceutical. Prior to Jnana, Mr. Pagán was Chief Financial Officer at the RNAi company Dicerna Pharmaceuticals, where he oversaw the 2021 sale of the company to Novo Nordisk for $3.3 billion. He has previously held leadership roles at Acceleron and Biogen and has served on the Board of Directors of the biotech companies Ziopharm Oncology and Timberlyne Therapeutics. Mr. Pagán holds an MBA from Columbia Business School and a BSE in chemical engineering from Princeton University. Dr. Brown brings more than 30 years of experience in RNAi and oligonucleotide research and development, including from discovery through drug approval and across a wide range of clinical indications and regulatory jurisdictions. Most recently, Dr. Brown served as Chief Scientific Officer and Executive Vice President of R&D at Dicerna Pharmaceuticals, an RNAi-focused therapeutics company that was acquired by Novo Nordisk. At Novo, he served as President and Head of the Dicerna Transformation Research Unit and SVP. Prior to Dicerna, Dr. Brown held various R&D leadership positions at Genta, a clinical-stage antisense oligonucleotide therapeutics company, and previously was a co-founder of Oasis Biosciences, which was acquired by Gen-Probe. Dr. Brown earned a Ph.D. in molecular biology from the University of California, Berkeley and B.S. degrees in chemistry and biology from the University of Washington, Seattle. About Atalanta Therapeutics Atalanta Therapeutics is a biotechnology company developing treatments for intractable diseases of the central nervous system using RNA interference. Atalanta's unique platform of divalent small interfering RNA (di-siRNA) is designed to enable durable, selective gene silencing throughout the brain and spinal cord. Atalanta is advancing a wholly owned pipeline of disease-modifying programs for Huntington's disease, genetic epilepsy, severe chronic pain, and other neurological diseases in addition to partnered programs as part of a strategic collaboration with Genentech. Atalanta is headquartered in Boston, Mass. For more information, visit
