Posted 11/28/2023, 4:30:00 PM
Forecasted El Niño Threatens Global Wheat Supplies and Prices
- El Niño weather event forecasted, could negatively impact wheat prices due to drought and extreme heat in major exporter Australia
- Australia is top wheat exporter globally, so declines in crop yield could affect prices worldwide
- El Niño causes extreme weather, exacerbated by climate change, so this could be start of damaging "new normal"
- Wheat vital global commodity, used in many staple foods, so price spikes could have serious consequences
- Mitigating climate change critical, as events like El Niño show our actions have global impacts, even on distant wheat crops