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According to a paper that coupled scenarios for population growth and income growth with climate change scenarios to look at the potential impacts under 15 different combinations, the mean projected price increases by 2050 are 87 percent for maize, 31 percent for rice, and 44 percent for wheat compared with 2010 levels for an optimistic scenario of low population and high income growth and using mean results from four climate scenarios. Food price volatility is another potential impact of climate change (Porter et al., 2014). Recent food price spikes often followed climate extremes in major producing countries, and have become more likely as a result of climate trends. With climate change, the risks to food and nutrition security are multiplied by the expected increase in the frequency and intensity of climate-related extremes and disasters.
The magnitude of impacts of extreme events on agriculture is high. FAO's recent analysis of 78 post-disaster needs’ assessments in 48 developing countries spanning the 2003–2013 period shows that 25 percent of all economic losses and damages inflicted by medium- and
large-scale climate induced hazards such as droughts, floods and storms in developing countries are affecting the agriculture sector.