International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes
Extreme weather events are occurrences of unusually severe weather or climate conditions that can devastate local communities, agriculture and natural ecosystems. Due to climate change, these extreme events are becoming increasingly more likely, lasting longer, and more severe in impact. In this pap...
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| Format: | Article |
| Language: | English |
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IOP Publishing
2024-01-01
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| Series: | Environmental Research: Food Systems |
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| Online Access: | https://doi.org/10.1088/2976-601X/ad89c4 |
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| author | Simone Pieralli Ignacio Pérez-Domínguez |
| author_facet | Simone Pieralli Ignacio Pérez-Domínguez |
| author_sort | Simone Pieralli |
| collection | DOAJ |
| description | Extreme weather events are occurrences of unusually severe weather or climate conditions that can devastate local communities, agriculture and natural ecosystems. Due to climate change, these extreme events are becoming increasingly more likely, lasting longer, and more severe in impact. In this paper, we illustrate the potential effects of concurrent and recurrent extreme weather events on EU agricultural commodity markets and, in particular, on production and trade. A combination of concurrent and recurrent events is expected to have a negative and compounding effect on domestic food supply and trade, making EU agricultural markets less resilient. A set of scenarios based on record low yields show how EU production could be drastically affected compared to a business-as-usual situation. Market disruptions would be potentially larger for commodities in which the EU has a strong net exporter position, such as wheat. In the absence of extremes in non-EU regions, trade reveals as a key element in buffering the adverse impacts of extreme events in the EU. |
| format | Article |
| id | doaj-art-19e1d017d7b74291bf1fcfdc75cca09f |
| institution | Kabale University |
| issn | 2976-601X |
| language | English |
| publishDate | 2024-01-01 |
| publisher | IOP Publishing |
| record_format | Article |
| series | Environmental Research: Food Systems |
| spelling | doaj-art-19e1d017d7b74291bf1fcfdc75cca09f2024-11-19T17:40:18ZengIOP PublishingEnvironmental Research: Food Systems2976-601X2024-01-012101100110.1088/2976-601X/ad89c4International trade makes European food markets less vulnerable to concurrent and recurrent climate extremesSimone Pieralli0https://orcid.org/0000-0002-9334-5184Ignacio Pérez-Domínguez1https://orcid.org/0000-0002-0279-6263European Commission, Joint Research Centre (JRC) , Seville, SpainEuropean Commission, Joint Research Centre (JRC) , Seville, SpainExtreme weather events are occurrences of unusually severe weather or climate conditions that can devastate local communities, agriculture and natural ecosystems. Due to climate change, these extreme events are becoming increasingly more likely, lasting longer, and more severe in impact. In this paper, we illustrate the potential effects of concurrent and recurrent extreme weather events on EU agricultural commodity markets and, in particular, on production and trade. A combination of concurrent and recurrent events is expected to have a negative and compounding effect on domestic food supply and trade, making EU agricultural markets less resilient. A set of scenarios based on record low yields show how EU production could be drastically affected compared to a business-as-usual situation. Market disruptions would be potentially larger for commodities in which the EU has a strong net exporter position, such as wheat. In the absence of extremes in non-EU regions, trade reveals as a key element in buffering the adverse impacts of extreme events in the EU.https://doi.org/10.1088/2976-601X/ad89c4extreme weather eventsagricultural marketsstochasticsAglink-Cosimocompound risk |
| spellingShingle | Simone Pieralli Ignacio Pérez-Domínguez International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes Environmental Research: Food Systems extreme weather events agricultural markets stochastics Aglink-Cosimo compound risk |
| title | International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes |
| title_full | International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes |
| title_fullStr | International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes |
| title_full_unstemmed | International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes |
| title_short | International trade makes European food markets less vulnerable to concurrent and recurrent climate extremes |
| title_sort | international trade makes european food markets less vulnerable to concurrent and recurrent climate extremes |
| topic | extreme weather events agricultural markets stochastics Aglink-Cosimo compound risk |
| url | https://doi.org/10.1088/2976-601X/ad89c4 |
| work_keys_str_mv | AT simonepieralli internationaltrademakeseuropeanfoodmarketslessvulnerabletoconcurrentandrecurrentclimateextremes AT ignacioperezdominguez internationaltrademakeseuropeanfoodmarketslessvulnerabletoconcurrentandrecurrentclimateextremes |