So far this year, cumulative rainfall in Spain is less than one-fourth of the 10-year average. The intense drought is now afflicting a wide range of crops, threatening to drive food prices higher in many EU countries.
Spain is a top producer of fruits and vegetables in the European Union. The country’s tomato crop is particularly vulnerable to drought as it is highly dependent on irrigation for its development and survival throughout the season. And with water supplies strictly rationed in the country, crop production is likely to suffer.
Increased fresh produce prices would exacerbate already high food price inflation, which has been running at double-digit rates across the European Union. Since January 2020, when global food price inflation began to accelerate, EU food prices are up 31%, as shown by Gro’s Agricultural Price Inflation Application.
Source: gro-intelligence.com