Unreasonable hints of scorching heat weather leaded by El Nino are harming food producers across Asia. Whereas American growers are hoping for more downpours in summer to relieve the influence of grievous drought. As El Nino looms, wheat output in Australia, the world’s second-largest exporter of the grain, is expected to get benefited from this hot weather, whereas rice production is going to bear loss in Indonesia. Soil is getting parched up in India and Pakistan. It will lead to freezing of summer crop planting. Less building of cereals and oilseeds in Asia because of El Nino is likely to bring food inflation worries dashing faith for further relaxation from lower prices in recent months.
Wheat prices have collapsed to 2½-year lows this week. While corn and soya beans have relaxed from multi-year peaks set in 2022, when the Covid-19 interrupted with the stability of world supplies. The arrival of rains in monsoon across South Asia is expected to happen late this year and El Nino could hit rice and oilseed production. In the United States and Argentina, where drought has cut down wheat and soya bean crops this year, good enough rains forecast in the second half would benefit crops, still the overall result will rely on the timing of El Nino. Rains are expected to boosting the recharging of lost moisture in soil in the plains of US. It has also set the stage for a improvised winter wheat harvest in 2024, the weather forecasters explain. In Europe, El Nino is not connected to weather patterns, prominent crops are in good condition after ample spring rain, expect Spain which is hit by severe drought.