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Economic impacts of climate change on agrifood markets: A bio-economic approach with a focus on the EU

Maria Blanco, Fabien Ramos and Benjamin Van Doorslaer

No 182826, 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia from European Association of Agricultural Economists

Abstract: Projections for world food production and prices play a crucial role to evaluate and tackle future food security challenges. Understanding how these projections will be affected by climate change is the main objective of this study. By means of a bio-economic approach we assess the economic impacts of climate change on agrifood markets, providing both a global analysis and a regionalised evaluation within the EU. To account for uncertainty, we analyse the IPCC emission scenario A1B for the 2030 horizon under several simulation scenarios that differ in (1) the climate projection, from HadleyCM3 (warm) or ECHAM5 (mild) global circulation models; and (2) the influence of CO2 effects. Results of this study indicate that agrifood market projections to 2030 are very sensitive to climate change uncertainties and, in particular to the magnitude of the carbon fertilization effect.

Keywords: Environmental Economics and Policy; International Relations/Trade (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr and nep-env
Date: 2014-08
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