The monsoon in India, which provides most of the annual rainfall, will be below normal this year amid a 60 percent chance for the emergence of an El Nino that previously caused droughts, the country’s forecaster said.
South Asia, home to a quarter of the world’s population, will probably get less monsoon rainfall than normal this year as odds increase for the emergence of the El Nino weather phenomenon that has previously caused droughts.
An El Nino will probably start as soon as July, according to the Australian government forecaster, strengthening predictions for the event that can affect weather patterns worldwide and roil commodity prices.
HAGL JSC, a real estate developer that’s transformed itself into Vietnam’s biggest listed farmer by acreage, is expanding overseas plantations and adding corn as it plans to list the agricultural unit in Singapore next year.
Palm oil production in Southeast Asia, the largest growing region, is at increasing risk from the probable onset of an El Nino later this year after estates were already hurt by dryness in the first quarter. Prices advanced.
Palm oil imports by India, the world’s biggest buyer, slumped for a third month in March as the highest prices in 18 months reduced appeal of the tropical oil used in everything from candies to noodles.