Over the next 15 years, the price of cereal is set to soar. The price of Kellogg’s Frosted Flakes in the U.S. could rice by 20 percent by 2020. Corn Flakes could also rise up to 30 percent in the U.S., and up to 44 percent in the UK, while the cost of General Mills’ Kix cereal could go up by between 12 and 24 percent in the U.S. And that’s on top of any other price increases due to inflation.
The new report, called “Standing on the Sidelines,” also calls out what Oxfam dubs the “Big 10” food and beverage companies for not doing enough to combat climate change by cutting emissions from their agricultural supply chains and lobbying for governmental action. Staples like corn and rice will double in cost by 2030, with half of that increase due to climate change, according to the report.
Breakfast cereal isn’t the only thing set to be impacted. Right now there is a particular fungus called coffee rust that is impacting crops across Central America. Climate change is being blamed for the fungus. Moreover, according to the Oxfam study, high temperatures killed up to 40 percent of Guatemala’s coffee harvests in 2013–2014.
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