Futures contracts on orange juice , cocoa , coffee and sugar have soared in part because of extreme weather and supply concerns related to El Niño.
"You can say El Niño has a sweet tooth because it sort of eats or takes away much of the sugar in the world," Carlos Mera, head of agri commodities market research at Netherlands-based Rabobank, told CNBC.
"Sugar prices have probably already been passed on [to consumers] but certainly for chocolate we should expect a big increase at retail level — and El Niño is certainly something to watch."
Joe Raedle | Getty Images News | Getty ImagesThe effects of El Niño tend to peak during December, but the impact typically takes time to spread across the globe.
It also warned that several crops could be adversely affected by El Niño early next year, while acknowledging there is the potential for some crops to benefit, citing those in the United States, southern Brazil and Argentina.
Persons:
El, Carlos Mera, El Niño, Joe Raedle, Dave Reiter, Reiter, Sia Kambou
Organizations:
Future Publishing, Rabobank, CNBC, Getty, Reiter Capital Investments, Twitter, Workers, Afp
Locations:
Yichang City, China's Hubei, Netherlands, El, Orange, Miami , Florida, Southeast Asia, India, Australia, Africa, United States, Brazil, Argentina, Florida, Hermankono