Large-scale crop failures are likely to become more common in the wake of climate change and lead to spiralling prices.
Rising temperatures could trigger events such as the wheat crisis in Russia this summer which pushed up food prices, researchers from the Universities of Leeds, Exter and the Met Office said.
Scientists warned that rising temperatures would make crops mature more quickly, reducing their yield, while extreme temperatures could also significantly reduce yields, according to the journal Environmental Research Letters.
More droughts would affect crops, while more intense monsoon rains could lead to flooding and crop damage, the Daily Mail quoted the researchers as saying.
Lead study author Andy Challinor from the University of Leeds, Britain, said: "Due to the importance of international trade, crop failure is an issue that affects everyone on the planet, not just those in crop-growing regions."
"More extreme weather events are expected to occur in the coming years due to climate change and we have shown that these events are likely to lead to more crop failures," he said.
"What we need to do now is think about the solutions. It is highly unlikely that we will find a single intervention that is a 'silver bullet' for protecting crops from failure," he added.
An approach which combined building up crop tolerance to heat and water stress alongside investment in agriculture was needed, the researchers suggested.
Co-author Evan Fraser from the University of Leeds said: "It appears that more developed countries with a higher GDP (gross domestic product) tend to evolve more advanced coping mechanisms for extreme events."