2020
DOI: 10.1016/j.wace.2019.100193
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Climate extremes and agricultural commodity markets: A global economic analysis of regionally simulated events

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Cited by 59 publications
(46 citation statements)
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“…Relying on a complete production compensation through market forces between European countries or at global scale may not be a viable climate change adaptation option. Climate extremes in a key producing country can induce global price spikes and modify trade patterns with effects going beyond the year of occurrence [41], and self-propagating trade disruptions [42]. For example, the lower 2018 production in Europe resulted in spiking cereal prices with an extra €50 per ton for wheat (base: €170 in May 2018) and an added €60 per ton for barley (August prices [40]).…”
Section: (B) Crop Production Anomalies In 2018 and Their Climatic Detmentioning
confidence: 99%
“…Relying on a complete production compensation through market forces between European countries or at global scale may not be a viable climate change adaptation option. Climate extremes in a key producing country can induce global price spikes and modify trade patterns with effects going beyond the year of occurrence [41], and self-propagating trade disruptions [42]. For example, the lower 2018 production in Europe resulted in spiking cereal prices with an extra €50 per ton for wheat (base: €170 in May 2018) and an added €60 per ton for barley (August prices [40]).…”
Section: (B) Crop Production Anomalies In 2018 and Their Climatic Detmentioning
confidence: 99%
“…The IPCC report published on 2014 demonstrated that, on average, global mean crop yields of rice, maize and wheat are projected to decrease between 3 and 10% per degree of warming above historical levels. Climate change will contribute to global food insecurity by reducing crop yield, increasing expenses due to drought, and therefore increasing food prices and the number of people with poor nutrition [4,5].…”
mentioning
confidence: 99%
“…Wheat production in the Mediterranean and the Middle East is currently threatened by increasing heat waves and droughts (Fontana et al 2015;Zampieri et al 2017Zampieri et al , 2019aTebaldi and Lobell 2018a). Given the socioeconomic importance of wheat in the Mediterranean (Asseng et al 2018), as well as the global consequences of regional yield anomalies and losses (Chatzopoulos et al 2019), we have here addressed the need of reliable indicators to estimate agricultural resilience with respect to climate extremes.…”
Section: Discussionmentioning
confidence: 99%
“…In order to quantify the links between climate and wheat production variability, we adopt a statistical model defined as a calibrated combination of heat and water stress indicators, i.e., the Combined Stress Index (CSI; Zampieri et al 2017). The CSI has been widely used to estimate the effects of climate anomalies on crop yields anomalies in current climate (Zampieri et al 2017(Zampieri et al , 2018(Zampieri et al , 2019b; it was applied in the context of seasonal forecasting (Ceglar et al 2018) and in economical modeling (Chatzopoulos et al 2019). The CSI procedure was further developed to quantify crop optimal production and the climate-related losses from the recorded crop production data available at the country level and to estimate the future production losses according to climate projections (Zampieri et al 2019a).…”
Section: Methodsmentioning
confidence: 99%