El Niño and Monsoon Weakness Drive Global Sugar Price Increases
1 report, 1 independent
Updated Nov 1
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What happened
A record El Niño weather system weakened the monsoon season in India, leading to a lack of rainfall in July and August. This climate disruption caused struggles for sugarcane crops in the country. As a result, global sugar prices rose by 6.6 per cent in October, marking the fourth consecutive monthly increase and reaching the highest level since April last year.
From nzcity.co.nz
Why it matters
The strain on India's sugar production, compounded by farmers facing higher fertilizer costs due to global conflicts, adds uncertainty to global markets. Experts note that climate disruptions often result in price shocks, which can quickly threaten food affordability and economic stability.
From nzcity.co.nz
Who's involved
- Chatham HouseChatham House provided expert analysis on food system risks in India
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The entities involved
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Chatham House
international affairs think tank