I wrote a blog post in March this year “Food price inflation gathers pace” which used inflation data up to February. I concluded that post by noting that “the explanation for the continuing rise in food price inflation is mostly likely down to the lags in transmitting price changes through the food price chain. Food price increases in the past year, though very high, have not fully reflected the increases in prices at primary producer level. As food manufacturers and retailers continue to adjust their prices to these higher input costs, food price inflation is likely to continue at a high level”.… Read the rest
The European Union is pondering the possible introduction of a pricing scheme for agricultural emissions as a way to accelerate the reduction in agricultural emissions on the way to net zero emissions by 2050. In the wake of criticism from the European Court of Auditors in its 2021 report on the climate performance of the CAP, and in light of the Court’s recommendation that the Commission should “assess the potential to apply the polluter-pays principle to emissions from agricultural activities, and reward farmers for long-term carbon removals”, the Commission has commissioned an exploratory study on pricing agricultural emissions and rewarding climate action in the land sector.… Read the rest
This post first appeared on LinkedIn on June 11, 2023 and is reproduced here without amendment. Since that date there have been national parliamentary elections in Greece and Spain which in many respects confirm the analysis presented here. Furthermore, it is now agreed to increase the number of seats in the European Parliament by 15, with additional seats going to France, Spain and the Netherlands (2 each) and 1 additional seat to Austria, Belgium, Poland, Slovenia, Slovakia, Finland, Latvia, Ireland and Denmark.