Report says surging CO2 prices could push up UK grocery bills by nearly $2B
October 3, 2022, 4:00 pm

Report says surging CO2 prices could push up UK grocery bills by nearly $2B

Selection of vegetables in London market - Pixabay

According to a new report released on Monday (October 3), grocery prices in the UK could increase by almost $2 billion due to a surge in the cost of carbon dioxide.

The Energy and Climate Intelligence Unit (ECIU), a UK-based non-profit advisory group, compiled research that showed huge increases in liquid carbon dioxide prices could be passed onto the British food and drink sector, meaning the price of groceries could increase by £1.7 billion ($1.9 billion), the Anadolu Agency reported.

It said, carbon dioxide is used to add fizz to soft drinks and some alcohols, food packaging, and the slaughter of some livestock.

Surging inflation and the war in Ukraine have pushed the per ton price of liquid carbon dioxide by up to 3000%.

According to the ECIU, the price is currently as high as £3,000 per ton, up from £100 per ton a year ago.

Daily life in London city, UK (Photo: Pixabay)

This cost of production increase comes on top of already soaring energy bills for British households and businesses.

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

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He said: “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.”

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

Source: aa

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”