Business
Effects of Climate Change on Local Agriculture and Economic Contribution, Central Bank Governor Warns
Climate change impacts local agriculture, affecting economic contribution. Adverse weather in 2023 led to lower crop yields and milk production, raising domestic food prices. Central Bank reports decreased agricultural output due to weather conditions.
1 min read
Originally published by nationnews.com (opens in new tab)
Local agriculture is feeling the heat from climate change.
Central Bank Governor Dr Kevin Greenidge says this can negatively impact the sector’s economic contribution this year.
Speaking during the bank’s first quarter economic review he said “adverse weather throughout 2023 harmed local crop yields and milk production, pushing domestic food prices higher”.
The Governor says based on information from the Ministry of Agriculture “we all should be concerned” about the impact bad weather was having on food production.
“We get our information from the Ministry of Agriculture and we are in constant dialogue with them and I think they are also concerned,” he said.
Non-sugar agriculture contributed $28 million to the economy in the first quarter, down from $30 million recorded in the same period last year.
The Central Bank’s economic report states “adverse weather conditions resulted in decreased agricultural output”.
