Food prices set to soar as chaotic weather plays havoc with crops

The price of food in Ireland is set to soar this winter due to freak weather across the world, including droughts and deluges, destroyed crops.

Persistent rain in Ireland has forced farmers to keep cows off the land and provide them with feed, while drought in the US, Russia, and other key grain-producing regions is driving up prices globally.

The strategic information services in Bord Bia have been tracking agricultural commodity prices.

The agency’s Peter Duggan said: “We don’t know exactly where prices are going to go, but we believe the trend will be upwards.”

As it is, the price of food is already running above the rate of inflation at 2.1%.

“Extreme variability in climatic conditions has caused some severe fluctuations in agricultural commodity prices.

“This year, the occurrence of extreme weather has happened on a more global scale compared to previous years, when these extreme conditions were isolated to specific regions.”

In Britain, the cost of vegetables is expected to rise sharply due to heavy rain.

France, the US, and G20 president Mexico will hold a conference call later this month to consider whether an emergency international meeting is required to avoid a repetition of the food price spike that triggered riots in 2008.

A spokesperson for the IFA said despite the higher prices consumers may end up paying, Irish farmers will not be benefiting.

“Farmers will be facing extra costs form having to keep their cattle in and give them feed instead of grass. This means that the costs for the farmer will be up, but the yield, either from milk or meat will be down. The farmer will get squeezed.”