Rising CO2 costs might force UK grocery bills higher reachin...| MENAFN.COM

Wednesday, 07 December 2022 10:23 GMT

Rising CO2 costs might force UK grocery bills higher reaching almost USD2B


(MENAFN) Grocery costs in the UK might surge by nearly USD2 billion because of a rise in the price of carbon dioxide, in line with a recent report issued on Monday.

The Energy and Climate Intelligence Unit (ECIU), a UK-based non-profit advisory organization, collected research that indicated massive surges in liquid carbon dioxide costs might be approved onto the British food and drink area, indicating the cost of groceries might surge by £1.7 billion (USD1.9 billion).

Carbon dioxide is consumed to add fizz to soft drinks as well as some alcohols, food packaging, in addition to the slaughter of some livestock.

Increasing inflation as well as the conflict in Ukraine have pushed the per ton price of liquid carbon dioxide higher by 3000 percent.

This cost of output rise comes along with already climbing energy bills for British families and businesses.

Matt Williams, climate and land arrangement head at the ECIU, cautioned that the UK’s “reliance on fossil fuels … could bring the food and drink system to its knees.”

“Rising energy costs are creating an extra cost of hundreds of millions of pounds in the food and drink industry that customers may struggle to avoid,” he stated.

Adding: “If high gas prices, or even blackouts, force factories to close it could create real problems for farmers and the food and drink industry.”

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