One of the factors that drives higher grocery prices is natural hazards or disasters.
Typically, we tend to think of supply chain issues or labor shortages having an impact, but natural hazards have increasingly become a critical driver of food price inflation.
That’s according to a new report from Trace One, whose research includes a breakdown of statistics in St. Joseph County, Indiana. It shows that farmers in the county are expected to lose a total of $162,192 dollars per year to natural disasters, including river flooding that can inundate their soil, damage crops, and disrupt the planting and harvest cycles.
You can read the report by clicking here.