This year’s El Ni?o weather event is expected to compound the effects on global food prices of India’s rice export ban and Russia’s withdrawal from the Black Sea grain deal, potentially stoking inflation across emerging markets.
Starting in September, the natural temperature fluctuation in the Pacific Ocean known as El Ni?o is forecast to bring months of extreme heat to parts of South Asia and Central America, as well as heavy rainfall over the Andes.
The phenomenon typically disrupts crop cycles and is likely to add further strain to global food output and prices after heavy rainfall forced India to ban exports of non-basmati white rice and Russia bombarded Ukrainian grain terminals.
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