El Niño News

El Niño conditions this year, which ended up providing “near normal" precipitation. These factors included the Indian Ocean Dipole (IOD) and Madden-Julian Oscillation (MJO), it said in a statement. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! While the IOD is defined by the difference in the sea surface temperatures between the western parts of the Indian Ocean near Africa and the eastern parts of the ocean near Indonesia, MJO is a large-scale atmospheric disturbance originating in tropical Africa and travelling eastward, typically lasting 30 to 60 days.

monsoon season has ended with India receiving «normal» cumulative rainfall — 820 mm against a long-period average of 868.6 mm — with positive factors countering the effect of El Nino conditions, the India Meteorological Department (IMD) said on Saturday. Rainfall between 94 per cent and 106 per cent of the long-period average (LPA) is considered normal. However, normal cumulative rainfall over the country during the monsoon season doesn't mean even spatial and temporal spread of precipitation.

National Center for Atmospheric Research said. Surface temperatures across a key part of the equatorial Pacific could peak at 2.4C degrees above normal in December, January and February, which would match the 1997-98 event and fall just below 2015-16’s 2.6 degrees. The question, however, is what this will mean for the world’s weather in a year that has seen record hot ocean water the world over. “When El Niño is clearly the loudest voice in the room, as it was during the 1997­–98 El Niño, the atmospheric response is clear,’’ Emily Becker, a climatologist and co-author of the National Oceanic and Atmospheric Administration’s ENSO Blog. “However, when the western Pacific and the rest of the tropics are also warm, the response may be more muddled.” This is the open question.

Restrictions on food exports are spilling over from rice and wheat to other essentials

Restrictions on food exports are spilling over from rice and wheat to other essentials

This question is playing out in households around the world as they face shortages of essential foods like rice, cooking oil and onions. That is because countries have imposed restrictions on the food they export to protect their own supplies from the combined effect of the war in Ukraine, El Nino’s threat to food production and increasing damage from climate change. For Caroline Kyalo, a 28-year-old who works in a salon in Kenya's capital of Nairobi, it was a question of trying to figure out how to cook for her two children without onions.

power stocks have soared up to 100% in FY24. While the BSE Power index has gained 28% in the ongoing financial year, Adani Power has doubled in less than 6 months. Shares of PSU Bharat Heavy Electricals Limited (BHEL), which manufactures power generation equipment, has grown 77% so far in FY24, while JSW Energy is also up 75%.

A projected 23 per cent increase in Australia’s sheep flock since the last drought in 2020 has created a glut that has sent prices into free fall, as farmers scramble to sell before hot weather hits this summer.

GrainCorp boss Robert Spurway says the company can cope well with adverse weather conditions as forecasts point to an end to a golden run of harvests.

The warmer El Nino summer will help the country’s largest insurers keep a lid on catastrophe costs after severe storm events cost some $10.5 billion in damage over the past three years during an extended La Nina pattern.

economic activity is seen supported by a rebound in tourism and healthy domestic demand. ‘’Domestic demand is continuing to support developing Asia’s growth.

By Enrico Dela Cruz

Gold prices fell on Wednesday after hitting a two-week highs in the last session, as traders await the U.S. Federal Reserve's policy decision for an updated outlook on the economy and monetary tightening path. FUNDAMENTALS * Spot gold eased 0.1% to $1,928.79 per ounce by 0111 GMT, after hitting its highest since Sept.

JAKARTA (Reuters) — Indonesia's parliament committee on Tuesday approved the government's higher 2024 budget expenditure of $216 billion to support economic growth, but some analysts say a bigger spending buffer might be needed to cope with adverse weather events.

The customer had lodged a home-and-contents claim after wild weather, but the insurer’s call centre couldn’t satisfactorily answer their questions. So, on a recorded conversation the corporate regulator reviewed, the customer asked how they could speak to another staff member.

NASA. The scorching heat waves experienced in North America, Europe, Asia, and other regions are attributed to human-induced global warming, compounded by the recurring climate phenomenon known as El Niño. NASA's analysis reveals that August 2023 was exceptionally hot, with temperatures 2.2 degrees Fahrenheit (1.2 degrees Celsius) above the average for summer. This extreme heatwave affected a staggering 57 million people in the southern and southwestern United States, reaching the highest category of severity. When considering the combined temperatures for June, July, and August, they were 0.41 degrees Fahrenheit (0.23 degrees Celsius) warmer than all previous summers. This alarming increase underscores the growing impact of global warming on the climate. In fact, NASA scientists confirmed that July 2023 was the hottest July on record, with the last five hottest Julys occurring within the past five years.

rain after the next two weeks, when his paddy will be ready. Any untimely rain will spell disaster for his crop.

Berkeley Earth, which focuses on environmental data science and analysis, said last month was the warmest August since records began to be kept in 1850, with «particularly warm conditions» prevailing in parts of India, Japan, North Atlantic, Eastern Equatorial Pacific, Northern South America, Central America, parts of Africa and the Middle East. The National Oceanic and Atmospheric Administration (NOAA), a US government agency, said on Thursday that 2023 witnessed Earth's hottest August in its 174-year climate record. The sizzling month also marked the northern hemisphere's warmest meteorological summer and the southern hemisphere's warmest meteorological winter on record, the NOAA's National Centres for Environmental Information said. Berkeley Earth said August 2023 exceeded the previous record set in August 2016 by 0.31 degrees Celsius, «a surprisingly large margin, well outside the margin of uncertainty». Its researchers said: «We estimate that 13 per cent of the Earth's surface experienced its locally warmest August average, and 87 per cent of the Earth's surface was significantly warmer when compared to its local average during the period from 1951 to 1980.» In total, they estimated that 65 countries (mostly in the tropics) witnessed their warmest August on record. These countries include Bahrain, Barbados, Brazil, Cambodia, Cameroon, Chad, China, Colombia, Cuba, Iran, Iraq, Japan, Kenya, Mexico, Morocco, Niger, Panama, Peru, the Philippines, Qatar, Russia, Rwanda, Saudi Arabia, Sri Lanka, Sudan, Suriname, Turkiye, Venezuela and Yemen. Some of these countries broke their August records by extraordinary margins.

Shares of sugar companies soared on Thursday on news reports that output in Maharashtra, India's highest-producing state, could fall in the 2023-24 crop year to its lowest in four years. This could lead to higher sugar prices and boost the profitability of top companies in the sector, said analysts.Sakthi Sugars jumped 11.3%, Dhampur Sugar gained 10.4%, Dwarikesh Sugar rose 9.8%, Bajaj Hindusthan advanced 7.2% and Balrampur Chini moved up 4.8%. A Reuters report said Maharashtra's sugar output could fall 14% in the 2023-24 crop year due to lower cane yields following the driest August in more than a century. Maharashtra, Uttar Pradesh, and Karnataka are among the top sugarcane-producing states in the country, and a dry spell because of the El Nino effect will likely affect supply. Sugar companies are expected to witness strong earnings growth till FY26, according to brokerage DAM Capital. «We believe fast developing El Nino conditions would further hamper sugar production in these states and keep domestic sugar prices above ₹37/kg,» said DAM's analyst Sanjay Manyal in a note to clients.

Dalmia Bharat Sugar and Dwarikesh Sugar jumped 7% to 13% on Thursday's session following brokerage DAM Capital Advisors Ltd's bullish stance on the sugar companies on the backdrop of rising sugar prices. The brokerage stated in its report said that increased sugar prices and rising ethanol volumes would lead to significant profitability growth for sugar producers.