Food Waste Problem: Smart Tech Solutions Are In Demand
Volt News
- The extent of the global food waste problem is serious: 1.3 billion tons of food are thrown away every year.
- Thanks to the increasing digitalization of the agricultural industry, smart solutions can lead to higher yields and lower food waste.
- Investors can benefit from the digitalization of the agricultural industry by participating in topics such as smart farming and food tech.
It is unimaginable, but true: one-third of the food produced worldwide does not end up being consumed. Far too much food is wasted in the fields, on its way to storage or at consumers’ homes. On top of that, the senseless waste of water and energy for production is an additional factor. Measures and actions are needed along the entire supply chain to limit food waste. Technological advances in agriculture are ensuring that farmers not only work more efficiently, but also do their part to combat the global food waste problem.
The war in Ukraine has reminded the world how fragile food security is. Less wealthy countries are particularly affected. Millions of tons of grain are stored in silos in Ukraine and cannot be exported because the main transport route across the Black Sea is blocked. This has serious consequences not only for Egypt, a major buyer of wheat from Ukraine and Russia, where the price of bread has multiplied, but also for countries in other world regions.
Every year, a billion ton of food is wasted, while several hundred million people go hungry. The challenge we face does not diminish when we think about global population growth. Growth has been slowing for decades, but the UN still estimates that nearly 10 billion people will populate the earth by 2050.
The Recipe Against Global Hunger: More Does Not Equal More
Producing more food does not seem to be a long-term solution in this scenario. Instead, the problem needs to be tackled at its root and we need to rethink our personal approach to food: 1.3 billion tons of food waste are counted every year. In the USA alone, the damage amounts to 160 billion US dollars.
Part of the food waste problem also originates at the beginning of the supply chain, on farms. By using sensors and data analytics to optimize irrigation, planting and harvesting schedules, farmers can increasingly reduce weather- or pest-related crop losses.
Where Is Food Wasted?
Surprisingly, the amount of food wasted is about the same in richer and poorer countries when looking at the entire supply chain according to the UNEP Food Waste Index Report 2021. However, consumers in developed countries are more wasteful with food than those in developing countries. A household in a developing country throws away as much food in 15 years as a household in a developed country does in one year. According to an article by WWF (only in German), Switzerland occupies an inglorious top position, where 300 kilograms per person end up in the garbage.
How Much Does Food Waste Impact The Environment?
If the food waste produced worldwide were a country, it would be the third largest CO2 emitter after the USA and China. Water is also wasted - a resource that is not called blue gold for nothing. The high water consumption is often associated with the processing of meat. After all, around 100 bathtubs filled with water are needed to consume 1 kilogram of beef.
In addition, methane further fuels climate change - and the climate-damaging gas is emitted not only by cows, but also by open landfills. This is because organic waste rots there and releases methane gas.
6 Percent Of Global Greenhouse Gas Emissions Come From Food Losses And Waste
How Can We Solve Food Waste Problems?
The reasons for food waste are wide-ranging. Often, the solution starts with our own perceptions - but full supermarket shelves give the impression that food is always abundant. Nevertheless, we are not on our own in the fight against the food waste problem. Thanks to the targeted use of technological innovations, a revolution is already underway in the agricultural industry.
For example, millions of drones are already in use for agricultural operations. In fact, these flying robots can determine when a crop reaches its optimal time of maturity. Their capabilities also include detecting areas where pesticides are needed. They can also prevent water waste by detecting leaks in drip irrigation systems. Unlike other technologies such as self-driving tractors or picking robots, drones are more reliable, efficient and affordable at this point in time according to a report by Agritech Tomorrow.
Cutting Losses With “Precision Farming” And Fully Automated Greenhouses
Farmers have always been at the mercy of the weather. But today, they have technology at their disposal to help them make decisions. With precision farming, farmers can now use real-time weather forecasts to decide when and how much to water and fertilize. Not only does this allow for healthy and lush crop growth, but it can also prevent weather-related losses.
Protection against crop damage due to storms, severe weather or premature drought is offered by so-called controlled environment agriculture. This includes intelligent greenhouses. The latest generation is fully automated and controlled by algorithms. They provide optimal conditions for plant growth by adjusting operating equipment such as roof ventilation, artificial lighting and heating.
Fighting The Food Waste Problem With Smart Farming
Smart farming is about, among other things, networking equipment, machinery, systems and gathering data for forecasting and decision-making purposes to support the optimization of agricultural processes. As a result, farmers expect higher yields and lower food waste.
According to an estimate by Grand View Research, the global smart agriculture market is expected to reach 35 billion US dollars by 2030, and it could grow by about 10 percent annually during the forecast period. This presents opportunities – including for investors who want to invest in the "Smart Farming & Food Tech" investment theme via the volt by Vontobel investment app.
Sounds interesting? With volt by Vontobel, you can participate in the development of various investment themes as well as alternative investments such as gold and cryptocurrencies.
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