El Niño News

Explainer on why rice inflation remains in double digits despite various price control measures by the Union government: What are the factors fuelling rice inflation? Some of the key reasons for rice inflation include consistent increase in the minimum support price (MSP), government procurement of rice above MSP to fulfil poll promises, possibility of a decline in India's kharif rice production by about 4% due to the impact of El Nino on the monsoons, and strong demand from poultry and ethanol industry. The increase in MSP of rice is also leading to higher rice prices, say industry experts. The MSP for the common variety of paddy for the year 2023-24 is Rs 2,183/quintal.

After the warmest December on record, an extreme cold wave is sweeping through Canada bringing heavy snowfall and strong winds that are forecast to continue this week.

Also Read- Titagarh Rail: The stock gained 367% in 2023; is there more upside ahead? Even analysts at Elara Securities India Ltd said that the earnings trajectory of agrochemicals companies under their coverage in Q3 is expected to be divergent. Companies that are light on channel inventory and have liquidated high-cost inventory are likely to be on a strong footing while earnings for the rest of the universe are likely to be under pressure. Industry veterans as S K Chaudhary, founder director of Safex Chemicals, said that Agrochemical producers can be classified broadly under three categories.

California coast this week and are galvanized by the powerful pattern of El Niño in the Pacific Ocean. The recent event is unexpected to be as pronounced as the waves, expanding the California coast in the past week. However, the huge waves are happening more often as per researchers, since global warning expands severe weather conditions, elevating sea levels. As per them, it translates to more coastal flooding at a future date. A swell along with big waves and also coastal flooding is predicted along the West Coast this week. Afterwards, a periodical high tide can bring an even greater amount of water inshore within 10 days, as per Laura Engeman, who is a coastal resilience specialist with California Sea Grant. According to her in the case there are big waves during those days, we might witness more flooding. The recent round of waves is not predicted to be as powerful as the late event in December. It is the future El Niños as well as the rise in coastal flooding, charged by the warm climate that caution those who have studied the coast. El Niño comes with more active winter storms, and elevated sea levels according to an oceanographer at the National Oceanic and Atmospheric Administration, William Sweet. This translates to more flooding in coastal areas, greater amount of extreme erosion, and higher astronomical high tides.

The U.N. Food and Agriculture Organization says global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022

snow? Turns out, they may not have to wait much longer.Global News chief meteorologist Anthony Farnell says after seeing the warmest December on record across the country, January will see a change in the pattern.“It’s going to start in the West, that’s where the cold and snow begins, but then I think as the month progresses, we’re going to see widespread cold and snowy conditions across much of the country,” he said.The lack of both has put a damper on many winter activities from coast to coast.In Quebec, despite its southern region being hit by a major snowstorm in early December, rainy and warm weather washed away most of the 30 centimetres that fell. It’s also washed out any plans for outdoor ice rinks in Montreal and other municipalities.Skiers in Manitoba also struggled, with grainy and icy snow making it difficult for cross-country enthusiasts to enjoy the paths.Ski hills have also faced problems, with several reporting fewer than half their tracks open to the public during the recent holiday season.The lack of snow is not necessarily surprising given the presence of El Niño, with Farnell having forecast last month that nearly the entire country would see milder weather through much of December.As for the blast of cold previously forecast to hit around the holidays, well, that has changed slightly, Farnell said, but the cold is still “definitely coming.”“The big question is, does it stay?” he said.

El Nino & Food Production The El Nino weather phenomenon, which brought dryness to large parts of Asia this year, is forecast to continue in the first half of 2024, putting at risk supplies of rice, wheat, palm oil and other farm products in some of the world's top agricultural exporters and importers. Traders and officials expect Asian rice production in the first half of 2024 to drop as dry planting conditions and shrinking reservoirs are likely to cut yields.

MANILA (Reuters) — Philippine President Ferdinand Marcos Jr. has approved the extension of reduced tariffs on rice and other food items until the end-2024 to keep prices stable amid a threat of dry weather in the coming months, his office said on Tuesday.

Christmas Day this year. However, dreams of some to experience a White Christmas can come true with an eleventh-hour snowstorm. Judah Cohen, director of seasonal forecasting at Versik Atmospheric and Environmental Research, said that some people will see their dream of getting a White Christmas come true at the last moment.

wheat and atta, 3.46 LMT wheat and 13164 MT rice were sold during 26th e-auction under Open Market Sale Scheme (OMSS) by the Food Corporation of India (FCI), the ministry of consumer affairs said in a statement. “In the e-auction, 3.46 LMT wheat and 13164 MT rice was sold at a weighted average of Rs 2178.24/Qtl for wheat and Rs. 2905.40/Qtl for rice,” it said in a statement. Cereal prices in November rose to 10.27% pushing the food inflation to 8.70% in November, against 6.61% reported the previous month.

₹11,507.05 crore and bought stocks for ₹11,473.54 crore, resulting in an outflow of ₹33.51 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹9,657.75 crore and offloaded shares worth ₹9,243.87 crore, resulting in an inflow of ₹413.88 crore, the exchange data showed. On Friday, the FIIs bought equities worth ₹9,239.42 crore.

China's south province of Guangdong faced rare snowfall while temperatures in the chilly north dropped to historic lows for the month. Also Read: China detects 7 infections of COVID subvariant JN.1; is this a variant of concern? Here are the details In China's northern areas, the mercury fell to historic lows below zero in northern areas. The extreme weather resulted in blocked roads, rail, and air transport.

Panama Canal, which has been strained by drought for months, will increase the number of ships it accepts each day starting in January, thanks to better-than-expected November rains. As many as 24 vessels will be permitted to pass through the system daily, up from 22 currently, the canal authority said in a statement Friday. A powerful El Nino has reduced rainfall in the region, sapping the canal’s water levels.

By Kylie Madry

It’s the cusp of winter in the Northern Hemisphere, but in many places from North America to Japan, it feels more like spring — and forecasters say that’s a sign of what to expect over the next couple of months, until a late-season cold snap arrives.

Bank of India (RBI) began on Wednesday, December 6. RBI Governor Shaktikanta Das will disclose the decision of the Monetary Policy Committee (MPC) around 10 am on Friday, December 8. There is widespread anticipation of rates staying as it is after the RBI MPC meeting even as inflation has eased significantly and economic growth remains strong.

After three consecutive La Niña winters, a moderate El Niño is now well established in the central Pacific Ocean.

GDP print came above expectations on Thursday driven by robust growth in the manufacturing, mining and construction sectors. However, growth in the agriculture segment cooled due to an erratic monsoon. India's Q2 GDP grew 7.6 per cent, significantly exceeding the expectations.

Shattering previous records, global mean temperature till October this year was around 1.4 degree Celsius above the pre-industrial level (1850-1900 average), the WMO said. Data so far shows 2023 almost touched the warming limit threshold of 1.5 degree C. This, however, does not mean that the world will permanently exceed the 1.5 degree C level specified in the Paris Agreement, which actually refers to long-term warming over many years. July '23 all-time warmest month on record, says WMO report Based on the data till October, it is virtually certain that 2023 will be the warmest year in the 174-year observational record, surpassing the previous joint warmest years, 2016 at 1.29 degree C above the 1850-1900 average and 2020 at 1.27 degree C.

El Nino weather event may adversely impact rainfall during the winter season 2023 thereby affecting the key rabi crop such as wheat, according to S&P Global Commodity Insights. The National Oceanic and Atmospheric Administration's (NOOA) climate prediction center has said that there are chances of “Super El Nino” which may cause winter to be drier affecting the wheat crop, said Elvis Kurian John, associate pricing editor, agriculture, S&P Global Commodity Insights. India has a wheat output target of 114 million tonnes in 2023-24 against 110.5 million tonnes of the previous fiscal. However, as of Nov 17, the country’s wheat sowing was at 8.6 million hectares down from 9.1 million hectares in the corresponding period last year. India had banned wheat exports in May 2022, due to a decline in output amid adverse climatic conditions in early 2022.

Rice prices are on track for a new 15-year high, threatening to spark more angst in Asia and Africa where the grain is the staple for billions. Thai white rice 5% broken — an Asian benchmark — has jumped by $57 over the past two weeks to $640 a ton following a period of relative calm, putting prices just short of the highest level since October 2008. That milestone was reached in early August in the wake of sweeping export curbs from top shipper India. Increased demand for Thai rice from unexpected buyers such as Brazil and the Philippines has contributed to the rise, said Chookiat Ophaswongse, an honorary president of the Thai Rice Exporters Association.