El Nino effect in agriculture, prices started to rise globally

Published 2023년 6월 13일

Tridge summary

The article highlights the impact of the returning "El Nino" weather event on global agriculture, with a particular focus on the cocoa and coffee markets. It notes that "El Nino" has led to drought and heavy rainfall in key agricultural areas, causing concerns about global supply. These concerns have resulted in an increase in cocoa futures to a four-week high, with prices rising by 6.3% in the last month and 36% in the last year. Similarly, the coffee market has seen prices rise, with Arabica coffee futures returning to around $1.9 after reports indicated that "El Nino" poses a threat to global production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

"El Nino" weather events, which meteorologists have been paying attention to for a while, began to affect agriculture. The return of the "El Nino" weather event, which left some of the world's most important agricultural production centers with drought and some with heavy rainfall, started to show its effect on coffee and cocoa. Cocoa futures rose above $3,180 a tonne to hit a four-week high amid growing concerns over global supply. CONCERNS RULE IN THE COFFEE MARKET Prices were at the level of 6.3 percent in the last month and 36 percent in ...

Source: Haber7