Recent heat waves that have blighted much of Europe look set to have an enduring and far-reaching legacy after the continent's grain trade association revealed the full impact they have had on production.
The Financial Times quoted the group, Coceral, as estimating that almost 9 million tons of grain were removed from production forecasts in the four weeks following June's extreme heat.
The United Kingdom-based Energy and Climate Intelligence Unit, or ECIU, values this overall lost productivity revenue at around 5 percent, or just over 2 billion euros ($2.28 billion) based on last year's farm gate prices, which are the prices paid to producers before factors such as distribution are factored in.
France, which saw temperatures reach 43 C, and Hungary, which recorded in excess of 40 C, are thought to be the two countries most seriously affected by western Europe's hottest June on record, with maize, primarily used as animal feed, accounting for around half the lost productivity.
As a result, Coceral has reduced its maize productivity forecast for the European Union and UK, from 57.2 million tons to 52.7 million tons. The fall in domestic productivity could increase the need for imports from other suppliers, such as Brazil and Ukraine, and also impact France's ability to export to livestock producers in Africa, with economic consequences there as well.
