(VOCM News)
A Super El Niño is wreaking havoc with the weather – particularly in Asia and on the west coast of North and Central America – and that’s having a dramatic impact on commodities grown in warmer climes.
(Sylvain Charlebois)
Sylvain Charlebois of Dalhousie’s Food Analytics Lab says despite tariffs, transportation costs and even EU regulations surrounding deforestation, the greatest impact on prices is coming from El Niño.
“Wheat is up almost 50 per cent, rice is up 30 per cent, sugar is also more expensive. That’s the real factor impacting prices right now.”
Storm activity in the Pacific due to El Niño as seen from satellite (NOAA)