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May 27, 2024 - Increased likelihood of La Niña occurring, increasing international grain price uncertainty in South Korea

Published May 27, 2024

Tridge summary

The Nonghyup Economic Research Institute has identified the potential for a La Niña phenomenon later this year as a key policy issue, given the significant impact it could have on international grain prices and global weather patterns. Major weather organizations, including the National Oceanic and Atmospheric Administration and the Australian Bureau of Meteorology, have predicted a 69% chance of La Niña occurring between July and September, a period during which the sea surface temperature in the Eastern Pacific equatorial region is expected to be more than 0.5°C lower than normal for over five months. This can lead to flooding in Southeast Asia, Oceania, South Africa, and dry conditions in the Pacific coasts of North and South America.
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Original content

The Nonghyup Economic Research Institute selected ‘increasing likelihood of La Niña occurrence and increasing uncertainty in international grain prices’ as policy issues this week. Major meteorological organizations around the world have observed that the La Niña phenomenon may arrive in the second half of this year. The National Oceanic and Atmospheric Administration predicted that there was a 69% chance that La Niña would occur between July and September of this year, and the Australian Bureau of Meteorology also issued a La Niña warning. La Niña refers to a phenomenon in which the sea surface temperature in the equatorial region of the Eastern ...
Source: Nongmin
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