Severe El Nino conditions are expected to impact global crops like maize and coffee through early 2027. The Indian government extended duty-free cotton imports until December 31 to boost supplies. Meanwhile, gold exchange-traded funds saw net negative investments in the week ended October 23 as prices fell four per cent.
Drought-bearing El Nino is ramping up into a very severe weather event, while crops from maize to coffee are likely to be impacted by it across the world. El Nino will also lead to consumers paying a higher price for sugar over the next year as next season's planting has been affected by dry weather. The Indian government has extended duty-free imports of cotton until December 31 to boost supplies. ICAR-IARI, in association with ArcelorMittal Nippon Steel, has tasted success in using iron ore tailings for agriculture. Investments into gold exchange-traded funds turned net negative in the week ended October 23, after 13 weeks of positive inflows.
1. El Nino conditions are ramping up, with a strong to very strong event likely to continue through January to March 2027, with a greater than 83 per cent chance. A positive Indian Ocean Dipole (IOD) is underway, according to global weather agencies. With various global organisations predicting that the evolving El Nino could be one of the severest, the weather event could impact various crops across the world, from maize and rice to coffee to palm oil.
2. Sugar will likely taste bitter for consumers over the next year or even more, as its production has been affected this season and could be hit next season too, industry stakeholders said.
3. The Centre has extended the customs duty exemption on cotton imports by two months till December 31, 2026, a move aimed at boosting supply of the fibre crop to the textiles sector.
4. Preliminary studies of an ICAR-IARI project, done since 2024, have shown encouraging results of the use of iron ore tailings, received from ArcelorMittal Nippon Steel in the cultivation of paddy, wheat, and vegetables such as brinjal (eggplant) and lady's finger (okra or bhindi). Results showed that the crop's yield improved by 10-15 per cent, while use of chemical fertilizers was 20 per cent lower.
5. Investments in physically backed gold exchange-traded funds (ETFs) turned net negative after 13 weeks in the week ending October 23, with the yellow metal losing nearly four per cent, data from the World Gold Council (WGC) showed.