Commodities Analysis by Investing.com (Damian Nowiszewski) covering: US Sugar #11 Futures, US Cocoa Futures, Rough Rice Futures, WisdomTree Cocoa 2x Daily Leveraged. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
When discussing weather-related factors, the focal point of concern is the El Niño phenomenon. In essence, El Niño is the colloquial term for a weather event originating in the Pacific Ocean that can simultaneously trigger heavy rains in North and South America while causing droughts in Southeast Asia and Australia. The latter region, in particular, garners significant attention due to its substantial production of sugar and rice, among other agricultural goods.
Let's take a look at each one of the aforementioned commodities to try to understand what the near future holds for food prices.A pivotal development in the realm of rice price quotations is India's recent decision to halt the export of non-basmati rice in a bid to stabilize domestic market prices. This decision carries far-reaching implications for global markets, given that India, alongside China, holds a dominant position in the industry, accounting for 40% of global trade.
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