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☆ Hotter, drier weather likely across Australia for winter and early spring
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, June 29 (Reuters) - Dry and warm weather is forecast across large chunks of Australia through the southern hemisphere winter and into spring, the Bureau of Meteorology said on Thursday. Hot and dry weather is associated with the El Nino weather pattern, which the bureau earlier this month said had a 70% chance of developing this year. Below median rainfall is also "likely to very likely" across parts of eastern and western Australia over the same period, the bureau said, adding there was a 60% to 80% chance. July is set to be an exception to the dry spell, with above median rainfall likely for much of the Northern Territory, Queensland and northern South Australia state. The forecast reflected a tropical Pacific Ocean warming beyond El Nino thresholds, record ocean temperatures globally and the potential development of a positive Indian Ocean Dipole, it said.

Persons: Lewis Jackson, Christina Fincher Organizations: SYDNEY, Meteorology, El, Thomson Locations: Australia, Northern Territory, Queensland, South Australia, El

☆ Climate event El Niño could hit the economy from food prices to clothing sales this year
▼ + stars: | 2023-06-29 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

But that’s not the only effects expected: Combined with climate change, El Niño this year could dent US economic growth, potentially impacting everything from food prices to the winter clothing sales. Higher food prices are a common theme across El Niño events, according to a recent Deutsche Bank report. Dry weather has parched crops in El Salvador as the El Niño weather threatens food security. The last time there was an El Niño in 2018 through 2019, NOAA dubbed it “The Great Puny El Niño” due to its relatively weak impact on weather conditions. He projects that El Niño weather events could cause $84 trillion in economic losses in the 21st century.

Persons: Niño, that’s, ”, Christopher Callahan, ” Christopher Callahan, El, Lesley, Ann Dupigny, Giroux, Yi Yu, Linh Pham, Winters, Yu, Callahan, Simeon Siegel, “, Chris Scheuring, “ It’s, Camilo Freedman Organizations: CNN, Oceanic, Atmospheric Administration, NOAA, Dartmouth, Southern, University of Vermont, University of California, Southwestern, Vietnam Electricity Group, Bloomberg, Getty, Deutsche Bank, BMO Capital Markets, Dupigny, US Federal Aviation Administration, California Farm Bureau, La Union, Prediction Locations: Niño, University of California Irvine, Asia, Australia, Southwestern United States, Tri An, Vinh Cuu, Dong Nai Province, Vietnam, United States, rainier, El, Pasaquina, La, El Salvador

☆ Monsoon rains to cover all of India earlier than usual, accelerate crop sowing
▼ + stars: | 2023-06-27 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

MUMBAI, June 27 (Reuters) - India's monsoon season rains were set to cover the whole country by the weekend, according to meteorological department officials, allowing farmers in northern states to begin planting of summer-sown crops a week earlier than normal. The monsoon, the lifeblood of India's $3 trillion economy, delivers nearly 70% of the rain needed to water its farms and recharge reservoirs and aquifers. This year, the formation of severe cyclone Biparjoy in the Arabian Sea delayed the onset of monsoon rains and stalled their progress, with just a third of the country covered until last week. "By this weekend, the monsoon will cover the remaining parts as well," he said. Many north-eastern, central and northern states are likely to receive heavy rainfall this week, which would bring the deficit below 20%, a second IMD official said.

Persons: El, Rajendra Jadhav, Simon Cameron, Moore Organizations: India Meteorological Department, IMD, Reuters, El Nino, Thomson Locations: MUMBAI, Kerala, India's, Rajasthan, Punjab, Haryana, El Nino, Southeast Asia, India, Australia, Nino

☆ Panama Canal postpones depth restrictions after much-needed rain
▼ + stars: | 2023-06-24 | by ( Elida Moreno | ) www.reuters.com time to read: +1 min

PANAMA CITY, June 23 (Reuters) - The Panama Canal will postpone depth restrictions that were set to affect the largest ships crossing the key waterway, the canal authority said, after much-needed rain provided relief to the strained maritime passage. However, rains are expected to dump between 70 mm (2.76 in) and 80 mm (3.15 in) of precipitation into the Panama Canal basin over the next 72 hours, according to the country's weather service. Neo-Panamax ships can continue to sail at the previous depth limit of 44.0 feet (13.41 m) and Panamax ships can move at 39.5 feet (12.04 m), the canal authority said in an advisory to customers seen by Reuters. The canal authority had previously announced another tightening, set for July 19, but did not refer to this in its client advisory. Since the beginning of the year, the canal had instituted a number of depth restrictions as a drought, caused by the El Nino weather phenomenon, had put pressure on its water supplies.

Persons: Eli Moreno, Kylie Madry, Diane Craft Organizations: PANAMA CITY, Reuters, El, Thomson Locations: PANAMA, Panama

☆ Climate change: Thousands of dead fish have washed up on a Thai beach. Experts say global warming may be to blame
▼ + stars: | 2023-06-23 | by ( Reuters Laura Paddison | Laura Paddison | ) edition.cnn.com time to read: +2 min

“Various natural phenomena, such as coral bleaching or plankton bloom, have naturally occurred for thousands to tens of thousands of years. According to local authorities, plankton blooms happen once or twice a year and typically last two to three days. This month, thousands of dead fish washed up on beaches in Texas, and experts are warning of algal blooms along the British coast as a result of rising sea temperatures. In Southern California, hundreds of dolphins and sea lions have been washing up on beaches dead or sick, amid a toxic algal bloom. While California’s algal blooms were caused more by strong coastal upwelling than high temperatures, scientists say climate change likely to increase toxic algal blooms, as some thrive in warm water.

Persons: Thon Thamrongnawasawat, it’s, ”, Sarah Perkins, Kirkpatrick Organizations: of Fisheries, Kasetsart University, British Met Office, it’s, University of New Locations: Chumphon, Texas, Southern California, it’s Australia, England, University of New South Wales, Australia

☆ Drought-hit Panama Canal further restricts maximum ship depth
▼ + stars: | 2023-06-22 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File PhotoPANAMA CITY, June 21 (Reuters) - The Panama Canal will expand restrictions on the largest ships crossing the waterway, one of the world's busiest trade passages, the canal authority's administrator said on Wednesday, citing shallower waters due to drought. Ship traffic, including container ships and oil tankers, using the canal between the Atlantic Ocean and Pacific Ocean accounts for about 3.5% of global trade. Despite the new rules limiting ships' weight, Vasquez said the flow of ships through the canal has carried on as expected so far. The limits will not affect liquefied natural gas (LNG) carriers, as they typically report drafts of up to 37 feet, according to the canal authority.

Persons: Aris Martinez, Ricaurte Vasquez, Vasquez, Eli Moreno, Kylie Madry, Sonali Paul Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Central, Reuters, Port, El Nino, Thomson Locations: Cocoli, Panama, Panama City, Central American, El

There were 71 cases of the disease - which generally causes fever and muscle pain but can be more severe and even sometimes fatal - last year, mainly in France. The health agency warned at a press conference on Thursday there is an increasing risk of a number of mosquito-borne diseases in the European region, including dengue, zika, chikungunya and West Nile virus, linked to the changing climate and the spread of mosquitoes carrying the viruses. “If this continues, we can expect to see more cases and possibly deaths from diseases such as dengue, chikungunya and West Nile fever," said Andrea Ammon, ECDC director. Aedes aegypti, which spreads diseases including dengue, yellow fever and chikungunya, became established in Cyprus last year and could make further inroads, it said. While the rates of some mosquito-borne diseases in Europe have not risen dramatically in recent years or even fallen slightly, such as malaria and zika, others have seen a "striking" rise, particularly dengue, the ECDC said.

Persons: Andrea Ammon, Aedes, Jennifer Rigby, Jane Merriman Organizations: European Centre for Disease Prevention, World Health Organization, El, Thomson Locations: Europe, France, chikungunya, West, Cyprus, Peru, El Nino

☆ Recession obsession, AI boom and wild markets: What Wall Street can expect for the rest of 2023
▼ + stars: | 2023-06-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

So what does the rest of the year have in store for Wall Street? Unfortunately, Wall Street is unlikely to receive the clarity it seeks anytime soon. Still, economists at the Federal Reserve believe that a recession seems more likely by the end of 2023 than not. AI boom: Wall Street has a lot to worry about, but there’s at least one source of market euphoria: artificial intelligence. Satisfying your sweet tooth is about to get more expensiveIf you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher.

Persons: it’s, Rachel, Ross, Mulder, Scully, Sam, Diane, Vladimir, Estragon, Samuel Beckett’s, ”, Michael Arone, Matthew Bartolini, Darrell Cronk, “, Arif Husain, Rowe Price, Wells, Justin Thomson, Liz Ann Sonders, Charles Schwab, Samantha Delouya, It’s, Danielle Wiener, Bronner, El, Paul Organizations: CNN Business, Bell, New York CNN, Investors, State, Federal Reserve, JPMorgan, Wells, Investment Institute, Silicon Valley Bank, Signature Bank, First, State Street, JPMorgan Chase, ”, “, OceanGate Expeditions, Federal Aviation Administration, Virgin Galactic, SpaceX, Rabobank Locations: New York, Silicon, First Republic, Washington, Europe, Asia, United States, China

☆ From ice cream to cattle feed: Here are the winners and losers as the summer heat bears down
▼ + stars: | 2023-06-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

With temperatures hitting all-time highs, consumers are turning to ice cream and chilled drinks to beat the heat — and analysts say some sectors could benefit. Several Southeast Asian cities hit record high temperatures in May as global climate change exacerbates heat waves and air pollution in the region. A street vendor selling bottles of chilled water amid high temperatures in Dhaka, Bangladesh, on Tuesday, June 6, 2023. "Use of air-conditioning will skyrocket, benefiting the HVAC industry but leading to extremely high levels of energy usage," said Allison Malmsten, public research director at Daxue Consulting. Cattle feeding at a cattle farm on December 13, 2020 in Pingliang, Gansu Province of China.

Persons: Bain, Zara Lightowler, Kuo, David Kuo, Allison Malmsten, Daxue, Rice Organizations: Getty, Company's, Vitasoy, Cola, PepsiCo, Bloomberg, Unilever, Smart Investor ., Daxue Consulting, Visual China, Co's, Sustainability Locations: Srinagar, Indian, Kashmir, Asia, El, Southeast Asia, Dhaka, Bangladesh, Pingliang, Gansu Province, China, Laos, Malaysia

☆ Cocoa prices are soaring. Here’s what that means for your chocolate
▼ + stars: | 2023-06-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —If you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher. Because of that, there is an “outsize impact of the region’s weather patterns on world cocoa prices and supplies,” according to Gro Intelligence’s post. Tony's Chocolonely welcomes higher cocoa prices. Petra Figueroa/SOPA Images/LightRocket/Getty Images“We are very happy that cocoa prices are rising,” said Pascal Baltussen, chief of impact and operations at Tony’s. “Cocoa prices have been way too low for West African cocoa farmers to earn a living income.”Cocoa futures are used to determine the prices paid to farmers for cocoa in Ivory Coast and Ghana.

Persons: El, Paul, Christophe Gateau, Niño, ”, Intelligence’s, Tony's Chocolonely, Petra Figueroa, Pascal Baltussen, Alex Assanvo, Côte, “ Price, Tony’s, Baltussen, Steven Voskuil, Hershey, “, we’ll, —, Laura Paddison, Rachel Ramirez Organizations: New, New York CNN, Rabobank, International Cocoa, Getty, Cocoa Organization, Gro Intelligence, Hershey Locations: New York, Europe, Asia, Agboville, Ivory Coast, Ghana, Cameroon, Nigeria, Amsterdam, Tony’s, NIQ

☆ The North Atlantic is experiencing a ‘totally unprecedented’ marine heat wave
▼ + stars: | 2023-06-20 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

CNN —Temperatures in parts of the North Atlantic Ocean are soaring off the charts, with an “exceptional” marine heat wave happening off the coasts of the United Kingdom and Ireland, sparking concerns about impacts on marine life. Parts of the North Sea are experiencing a category 4 marine heat wave – defined as “extreme” – according to the National Oceanic and Atmospheric Administration. And in 2021, an extreme heat wave cooked around a billion shellfish to death on Canada’s West Coast. As climate change intensifies, marine heat waves are set to become more common. The frequency of marine heat waves has already increased more than 20-fold due to human-caused global warming, according to a 2020 study.

Persons: ” Stephen Belcher, ”, Mika Rantanen, Richard Unsworth, “, ” Unsworth, Albert Klein Tank, Rantanen Organizations: CNN, National Oceanic, Atmospheric Administration, UK Met, Met Office’s, Finnish Meteorological Institute, biosciences, Plymouth University, UK Met Office, Met Office Hadley Locations: United Kingdom, Ireland, Iceland, Europe, Gulf Coast, Texas, West Coast, El

☆ New tropical depression expected to become first 2023 hurricane -US center
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

June 19 (Reuters) - The third topical depression of the 2023 hurricane season has formed in the central tropical Atlantic and is expected to become a hurricane in a few days, the U.S. National Hurricane Center said on Monday. The depression, about 1,425 miles (2,295 km) east of the southern Windward Islands, is packing maximum sustained winds of 35 miles per hour (55 km per hour), the Miami-based forecaster said. "The depression is forecast to strengthen and move across the Lesser Antilles as a hurricane on Thursday and Friday, bringing a risk of flooding from heavy rainfall, hurricane-force winds, and dangerous storm surge and waves," the hurricane center said. If the depression becomes a hurricane, it would be the first one of the 2023 season, which lasts from June through November. A slightly below-average 2023 Atlantic hurricane season lies ahead with an El Nino weather phenomenon damping the storm outlook, researchers at Colorado State University predicted in April.

Persons: Jonathan Oatis Organizations: U.S, National Hurricane Center, Atlantic, El, Colorado State University, Thomson Locations: Windward, Miami, Lesser, Puerto Rico, Virgin, El Nino, Bengaluru

☆ Heat, drought and fire: Europe's year of extremes in 2022 will not be a 'one off,' new report finds
▼ + stars: | 2023-06-19 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

CNN —The climate crisis is taking an enormous toll on Europe, which was ravaged by extreme heat, drought, wildfires and glacier melt last year, a new analysis has concluded. The cracked ground of La Vinuela reservoir during a severe drought in La Vinuela, near Malaga, southern Spain August 8, 2022. Europe experienced the second-largest burned area on record in 2022, the report found, with Central Europe and the Mediterranean, in particular, seeing large areas scorched by fire. And oceans were unusually warm, with average sea surface temperatures in the North Atlantic the hottest on record. With the arrival of El Niño, a natural climate phenomenon with a global warming effect, many scientists are concerned 2023 could see even starker climate extremes.

Persons: ”, Carlo Buontempo, Jon Nazca, El, Petteri Taalas Organizations: CNN, World Meteorological Organization, Central, North Atlantic, WMO Locations: Europe, Spain, Switzerland, Italy, France, La Vinuela, Malaga, Central Europe, North

☆ IMF sees Honduran economic growth slowing to about 3% in 2023
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

TEGUCIGALPA, June 16 (Reuters) - Honduran economic growth is seen slowing to about 3% in 2023, the International Monetary Fund (IMF) estimated in a statement issued on Friday, pointing to fewer remittances and pressures on the energy and farm sectors stemming from drought conditions. Honduran authorities said earlier this week they would begin rationing electricity due to the drought's impact on the country's hydroelectric plants. A drought linked to El Nino weather phenomenon is affecting much of Central America and is expected to cut into the region's harvests. "Honduras remains one of the world's most vulnerable countries to climate disasters, with sizeable adaptation investment needs," the IMF statement said. Reporting by Gustavo Palencia; Writing by Valentine Hilaire; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

Persons: Gustavo Palencia, Valentine Hilaire, David Alire Garcia Organizations: International Monetary Fund, Central, IMF, Thomson Locations: TEGUCIGALPA, Honduran, Nino, Central America, Honduras

☆ Four alarming charts that show just how extreme the climate is right now
▼ + stars: | 2023-06-17 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +8 min

Record high levels of carbon pollution in the atmosphere and record low levels of Antarctic ice. Several all-time heat records were also broken earlier this month in Siberia, as temperatures shot up above 100 degrees Fahrenheit. In 2022, the world’s oceans broke heat records for the fourth year in a row. In late February, Antarctic sea ice reached its lowest extent since records began in the 1970s, at 691,000 square miles. The decline in sea ice also poses severe harm to the continent’s species, including penguins who rely on sea ice for feeding and hatching eggs.

Persons: Brian McNoldy, vZ9eKEs22b, we’re, ” Jennifer Marlon, “ We’ve, – we’ve, Ted Scambos, “ We’re, Phil Reid, El, Climatologist Maximiliano Herrera, “, El Niño, ” Herrera, ” Scambos, Reid, Scambos, there’s, Rick Spinrad, ” Organizations: CNN, University of Miami Rosenstiel School of Marine, Yale School of, University of Colorado -, National Weather Service, Australian, of Meteorology, National Oceanic, Atmospheric Administration, Atlantic, NOAA, Scripps Institution of Oceanography, University of California, Industrial Locations: University of Colorado - Boulder, Canada, United States, Siberia, Central America, Texas, Louisiana, Puerto Rico, Asia, China, El, California, Pacific, San Diego

☆ Peru's health minister steps down as dengue death toll jumps
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Sebastian Castaneda/File PhotoLIMA, June 15 (Reuters) - Peru's embattled health minister announced her resignation late on Thursday during a speech in Congress, in the midst of a dengue outbreak already responsible for record-breaking deaths and infections. Lawmakers had summoned Health Minister Rosa Gutierrez to face a motion to remove her from her post before she said she would resign. President Dina Boluarte accepted the resignation and vowed to "redouble" efforts to improve public health in a post on Twitter. Over the past week, deaths are up 24%, as cases jumped by more than 12%. Last week, Boluarte declared a two-month state of emergency in most regions of the country, while most of the fatalities so far have occurred in northern Peru.

Persons: Sebastian Castaneda, LIMA, Lawmakers, Rosa Gutierrez, Dina Boluarte, Boluarte, Marco Aquino, Valentine Hilaire, Lincoln Organizations: Nueva, REUTERS, Twitter, Thomson Locations: Nueva Esperanza, Lima , Peru, El Nino, Peru

☆ Mexico says mass bird deaths likely caused by El Niño's hotter waters
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

Some 300 wild birds of various species were found dead over the weekend along the coasts of Mexico's western states of Chiapas, Oaxaca, Guerrero, Michoacan, Jalisco, Sonora and Baja California Sur. Authorities had initially suspected bird flu, but a joint effort from the country's agriculture and environment ministries concluded the most likely reason was warmer oceans resulting from El Niño. With warmer waters, fish tend to swim lower in search of colder waters, which prevents seabirds from successfully hunting for their food, the ministries said in a statement. At least six people have died in Mexico as a result of intense heat this warmer season, according to recent tally from the health ministry. Reporting by Mexico Newsroom; Writing by Carolina Pulice; Editing by Sarah Morland and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Carolina Pulice, Sarah Morland, Sandra Maler Organizations: MEXICO CITY, Authorities, U.S . National Oceanic, Atmospheric Administration, NOAA, El Nino, Mexico, Thomson Locations: MEXICO, El, Chiapas, Oaxaca, Guerrero, Michoacan, Jalisco, Sonora, Baja California Sur, Americas, Peru, Chile, Mexico

☆ Chocolate is set to get more expensive as cocoa prices soar to seven-year highs
▼ + stars: | 2023-06-13 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Chocolate prices have risen by 14% in the past year, according to consumer intelligence database NielsenIQ. Chetvertakov foresees that the cocoa market could be dented by another deficit in the subsequent season, which runs from October to September next year. Spike in sugar and cocoa butter prices"As chocolate is made up primarily of cocoa butter, with some cocoa liquor included in dark or milk, the price of butter is the most direct reflection of how chocolate prices would move," said Mintec's Director of Commodity Insights Andrew Moriarty. Dark and milk chocolate bars arranged with cocoa beans, cocoa powder and cinnamon sticks. Amongst the different varieties of chocolate, prices of dark chocolate will be hardest hit.

Persons: Cindy Ord, Sergey Chetvertakov, Chetvertakov, Nino, Andrew Moriarty Organizations: Getty, P, CNBC, El, Bloomberg Locations: West Africa, Côte d'Ivoire, Ghana, Azaguie, Ivory Coast, Europe

CNN —An “unprecedented drought” is affecting the Panama Canal’s water supply and leading authorities to impose surcharges and weight limits on ships traversing the key global trade route, according to the Panama Canal Authority. Ships move through the Panama Canal through a lock system, which uses water from several freshwater reservoirs to float the massive cargo vessels overland. But Panama is currently gripped by drought, and water levels at least one of those reservoirs – Gatun Lake – are dropping. But the start of El Niño “could worsen” conditions, the Panama Canal authority also warned. Regional neighbors have sought opportunities to compete with the lucrative Panama Canal.

Persons: El Niño, El, Cape Horn Organizations: CNN, Panama Canal Authority, Ships, Panama City, Panamanian National Government, El, Pacific, United Locations: Panama, Central America, El, South America, Cape, Asia, United States, Panamanian, Panama Canal, Nicaragua, Mexico, Pacific, Gulf of Mexico

☆ Here’s How Much Hotter Than Normal This June Has Been
▼ + stars: | 2023-06-13 | by ( Elena Shao | Raymond Zhong | ) www.nytimes.com time to read: +4 min

64° F June 11, 2023 62° 2022 60° 1979-2021 58° Global Daily Average Air Temperatures 56° 54° 52° 50° Jan. 1 Mar. “We’re putting heat into the system — through climate change, through the greenhouse effect — and that heat is going to manifest. NOAA last month said there was a 40 percent chance that this year’s hurricane season would be near normal. But it also assigned 30 percent probabilities to the season’s being above or below normal. There’s another factor that could also have made the world hotter recently, though it’s not clear how much.

Persons: ” Rick Spinrad, “, Spinrad, El Niño, it’s, Daniel L, Swain, Dr, ” Organizations: University of Maine, National Centers for, National Oceanic, Atmospheric Administration, NOAA, University of California Locations: Canada, United States, Siberia, Antarctica, El, Pacific, Tonga, Los Angeles

Food inflation, which accounts for nearly half of the overall consumer price basket, moderated to 2.91% in May against 3.84% in April. "Food inflation benefited from a sequential fall in the prices of fruits and oils," said Suvodeep Rakshit, economist at Kotak Institutional Equities. Core inflation, which had been easing after being a key concerns for months, remained below 6% for a third consecutive month. According to two economists' estimates, core inflation was 5.02% in May, compared with 5.2% in April. The Indian government does not release figures of core inflation, which strips out volatile food and energy prices.

Persons: Suvodeep Rakshit, Devendra Kumar Pant, Nikunj Ohri, Aftab Ahmed, Andrew Heavens Organizations: Reserve Bank of India's, Reuters, El, Thomson Locations: DELHI, Asia, India

The delay in shipments from India could support global sugar prices , trading near multi-year highs. Last year, despite good monsoon rains, sugar production fell. At the start of the current sugar season to Sept. 30, 2023, the industry pegged this year's output at 36 million tonnes, which has been scaled down to 32.8 million tonnes. Due to the lower output, India allowed exports of 6.1 million tonnes for this season. The country exported more than 11 million tonnes in 2021/2022, an all-time high.

Persons: El, there's, Rajendra Jadhav, Mayank Bhardwaj, Jacqueline Wong Organizations: El, El Nino, Thomson Locations: MUMBAI, DELHI, India, New Delhi, Mumbai

☆ Morning Bid: Wall St 'bull', China deflation
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +4 min

Its annual consumer price inflation rate was just 0.2% - also below forecast. But along with easing supply chain pressures and annual crude oil price deflation still near 40%, there was enough to restore hopes that central bank tightening is gaining traction and further extreme moves unnecessary. The Bank of Japan is expected to retain its super-easy money policy and the European Central Bank is due to nudge up rates another quarter point. On the hawkish side, the International Monetary Fund on Thursday urged global central banks to "stay the course" on monetary policy and remain vigilant. Events to watch for later on Friday:* Canada May employment reportReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by Susan Fenton <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Mike Dolan, abating, El Nino, Binance.US, Donald Trump, Susan Fenton Organizations: Bank of, European Central Bank, International Monetary Fund, U.S, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, China, Bank of Japan, Ukraine, Miami

☆ India's central bank isn't letting its guard down, economist says
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's central bank isn't letting its guard down, economist saysSonal Varma of Nomura discusses the outlook for the Reserve Bank of India's monetary policy and says it's monitoring factors such as El Nino and a potential rise in oil prices. She adds that an interest rate hike is unlikely.

Persons: Sonal Varma, Nomura Organizations: Reserve Bank, El Nino

On Thursday, the U.S. National Oceanic and Atmospheric Administration (NOAA) declared that an El Nino is now underway. The last time a strong El Nino was in full swing, in 2016, the world saw its hottest year on record. Meteorologists expect that this El Nino, coupled with excess warming from climate change, will see the world grapple with record-high temperatures. Here is how El Nino will unfold and some of the weather we might expect:WHAT CAUSES AN EL NINO? Historically, both El Nino and La Nina have occurred about every two to seven years on average, with El Nino lasting 9 to 12 months.

Persons: El Nino, Michelle L'Heureux, El, Tom DiLiberto, DiLiberto, La Nina, Nina, Gloria Dickie, Angus MacSwan Organizations: El Nino, U.S . National Oceanic, Atmospheric Administration, NOAA, El, Graphics, el nino, NINO, U.S . West, Nino, La, El Ninos, Thomson Locations: Americas, El, Pacific, Peru, Philippines, United States, Canada, Central, South America, Australia, of Africa, Eastern Pacific, El Nino, London

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