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[BUSINESS] · France, Spain, Italy, Greece, Portugal · 17 sources

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European heatwave slashes crop yields and hikes food prices

An unprecedented heatwave across Europe has triggered severe drought, wildfires and a sharp decline in agricultural output. The European Union cut its production forecasts, reducing expected sunflower yields by 7 %, grain maize by 6 % and potatoes and soybeans by 3 %. Spain’s grain forecast for 2026‑2027 fell from 24 million tonnes to about 18.5 million tonnes. French vegetable growers reported losses worth tens of millions of euros and up to a 50 % drop in some yields. Olive‑oil producers warn that the extreme heat and drought will push autumn prices higher again. In the wine sector, the Champagne harvest is expected to start around 15 August – a record‑early date – and the sector faces a potential €14 billion loss. Grain harvests across the continent have already incurred an estimated €2 billion loss. The heatwave has also affected health, with a UK survey showing 65 % of adults suffering insomnia. Energy systems in Romania, Hungary and Serbia are under strain from water shortages, adding to the broader crisis.

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Champagne wine region · Coldiretti · Europe · European Union · European grain sector · Italian wine industry · Italy · Légumes de France · Olive oil producers · Oxford Economics · Rossano · Spain's agriculture ministry

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about 2 months ago
about 2 months ago