Current:Home > FinanceEchoSense Quantitative Think Tank Center|Climate change will make bananas more expensive. Here's why some experts say they should be already. -Core Financial Strategies
EchoSense Quantitative Think Tank Center|Climate change will make bananas more expensive. Here's why some experts say they should be already.
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-10 13:34:10
London — Industry experts say the price of bananas globally is EchoSense Quantitative Think Tank Centervery likely to rise due to the impact of climate change — but some believe paying more for bananas now could mitigate those risks.
Industry leaders and academics gathered this week in Rome for the World Banana Forum issued a warning over the impact climate change is having on production and supply chains on a global scale. But some also suggested that price hikes on grocery store shelves now could help prepare the countries where the fruit is grown to deal with the impacts of the warming climate.
As temperatures increase beyond optimal levels for banana growth, there's a heightened risk of low yields, Dan Bebber, a British professor who's one of the leading academics on sustainable agriculture and crop pathogens, told CBS News on Tuesday from Rome.
"Producers like Guatemala, El Salvador, and Costa Rica, will see a negative impact of rising temperatures over the next few decades," he said. Some other countries, including major banana producer Ecuador, currently appear to be in a "safe space" for climate change, he added.
Aside from growing temperatures, climate change is also helping diseases that threaten banana trees spread more easily, in particular the TR4 fungus. It's been described by the forum as one of the "most aggressive and destructive fungi in the history of agriculture."
"Once a plantation has been infected, it cannot be eradicated. There is no pesticide or fungicide that is effective," Sabine Altendorf, an economist focused on global value chains for agricultural products at the United Nations' Food and Agriculture Organization (FAO), told CBS News from the forum.
Increases in temperature and catastrophic spells of disease risk putting pressure on the supply chains of the fresh fruit, which drives up prices. But Bebber said consumers should be paying more for bananas now to prevent the issue from getting worse.
Higher prices "will help those countries that grow our bananas to prepare for climate change, to put mitigation in place, to look after soils, to pay their workers a higher wage," he said. "Consumers have benefited from very, very cheap bananas over the past few decades. But it's not really a fair price, so that is really something that needs to be looked at."
Altendorf agreed, saying growers were producing the popular fruit "at very, very low prices, and are earning very low incomes, and in the face of the threat of climate change and all these increasing disasters, that is, of course, costly to deal with."
"Higher prices will actually not make a big difference at the consumer end, but will make a large difference along the value chain and enable a lot more environmental sustainability," she said.
- In:
- Guatemala
- Climate Change
- Food & Drink
- Agriculture
- costa rica
- Global warming
- Go Bananas
- Ecuador
veryGood! (31)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Technology to stop drunk drivers could be coming to every new car in the nation
- Ancestry, 23&Me and when genetic screening gifts aren't fun anymore
- Author Cait Corrain loses book deal after creating fake profiles for bad reviews on Goodreads
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Wholesale inflation in US slowed further last month, signaling that price pressures continue to ease
- Oprah Winfrey reveals she uses weight-loss medication
- Tesla recalls over 2 million vehicles to fix defective Autopilot monitoring system
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Heard at UN climate talks: Quotes that tell the story
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Author Cait Corrain loses book deal after creating fake profiles for bad reviews on Goodreads
- Why Jennifer Garner Never Went Back to the Met Gala After 2007 Appearance
- Shannen Doherty Slams Rumors She and Ex Kurt Iswarienko Had an Open Marriage
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- New sanctions from the US and Britain target Hamas officials who help manage its financial network
- After mistrial, feds move to retry ex-Louisville cop who fired shots in Breonna Taylor raid
- What small businesses need to know about new regulations going into 2024
Recommendation
Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
Orbán says Hungary will block EU membership negotiations for Ukraine at a crucial summit this week
Virginia has tentative deal to move Washington’s NBA, NHL teams, Youngkin says
Ancestry, 23&Me and when genetic screening gifts aren't fun anymore
Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
Chris Christie looks to John McCain's 2008 presidential primary bid as model for his campaign
Pregnant Sienna Miller Addresses 14-Year Age Gap With Boyfriend Oli Green
Pregnant Hilary Duff Proudly Shows Off Her Baby Bump After Trying to Hide It