As we’ve previously noted, parts of South America and the Western half of the US are in a drought, affecting future harvest yields. Especially in the US, a megadrought is crushing farmers as reservoirs dry up, with many unable to water their crops.
Meanwhile, the Biden administration set the 2030 greenhouse gas pollution target aimed at increasing biofuels – this means the agricultural product is being diverted for fuel rather than food, driving up prices.
