El Niño’s ‘sweet tooth’ Even though inflat
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Posted On: 12/30/2023 5:04:03 AM
El Niño’s ‘sweet tooth’
Even though inflation’s subsiding in many advanced economies, soft commodities — such as orange juice, cocoa, coffee and sugar — are posting record rallies in 2023. That’s because they’re affected by extreme weather and supply concerns related to El Niño, a climate pattern that causes sea temperatures to rise, paving the way for storms and droughts that disrupt crops.
Even though inflation’s subsiding in many advanced economies, soft commodities — such as orange juice, cocoa, coffee and sugar — are posting record rallies in 2023. That’s because they’re affected by extreme weather and supply concerns related to El Niño, a climate pattern that causes sea temperatures to rise, paving the way for storms and droughts that disrupt crops.
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