UK grocery bills reaches USD2B due to soaring CO2 prices| MENAFN.COM

Friday, 09 December 2022 09:25 GMT

UK grocery bills reaches USD2B due to soaring CO2 prices


(MENAFN) Grocery costs in the UK could soar by about USD2 billion as the reason 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 big surges in liquid carbon dioxide costs might be approved onto the British food and drink area, indicating the cost of groceries could 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 on top of the attack on 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.”

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