‘Godzilla’ El Niño Could Raise Food Prices for Years
Summary
A very strong El Niño weather pattern is expected to develop soon. This could cause extreme weather like droughts and floods that will affect farming and increase food prices worldwide for the next few years.Key Facts
- The World Meteorological Organization says the El Niño will get stronger over the coming months.
- The National Oceanographic and Atmospheric Administration predicts an 81% chance of a very strong El Niño from October to December.
- This El Niño is expected to be one of the strongest since 1950.
- Extreme weather from El Niño can damage crops and disrupt food markets by causing droughts and floods.
- Goldman Sachs estimates global food prices could rise by nearly 16%, with full effects seen by 2028.
- A strong El Niño could double global food prices within about a year, according to some analysts.
- Agricultural production could drop by over 14%, causing hundreds of billions of dollars in losses.
- The worst impacts are predicted for regions like Africa, Asia, Australia, and parts of Southeast Asia, with limited effects expected in the U.S. due to diverse import sources.
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