The El Niño may bring food price increases
The climate phenomenon called El Niño is ikely to occur this year with a two-third probability. It can cause significant increases in food prices – tozsdeforum.hu wrote.
The El Niño, (when the wind slows down or changes direction in the equatorial regions of the Pacific Ocean) occurs cyclically every 2-7 years. It heats up vast areas of water, making forecasts uncertain. The prices of products like coffee, soybeans or nickel may increase significantly. (The biggest nickel exporter country, Indonesia should decline its water-intensive of nickel production because of the drought.) The rise in prices caused by the El Niño would only bring more oil to the fire. The commodity futures contracts are suggesting that investors expect an increase in ther price of the key agricultural products. (tozsdeforum.hu, Bartha Ádám)
Related news
Related news
In June, the annual decline in producer prices slowed down in Germany
In Germany, producer prices fell by 1.6 percent year-on-year in…
Read more >Rural accommodations closed a stronger half year than last year
The momentum of tourism in 2023 will continue to make…
Read more >Munch is now available in every Auchan store
From the beginning of May you can get the three…
Read more >