An almond grower inspects almond trees in his orchard near Atwater, Calif. At 1 gallon per almond, California’s almond crop is now consuming about 10% of all the water that Californians are using in the drought. (AP Photo/Rich Pedroncelli)

(Bloomberg) — Food and beverage producers face rising costs that could curtail growth as water shortages and pollution become more severe, a group of investors warned in a new report.

Water scarcity is already impacting companies in drought-stricken regions such as California and Brazil, according to the report Thursday from Ceres, a Boston-based coalition of investors with more than $13 trillion in assets. While some producers are taking steps to manage water risks, most have fallen short, Ceres said.

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