Active Stocks
Tue Apr 16 2024 15:59:30
  1. Tata Steel share price
  2. 160.05 -0.53%
  1. Infosys share price
  2. 1,414.75 -3.65%
  1. NTPC share price
  2. 359.40 -0.54%
  1. State Bank Of India share price
  2. 751.90 -0.65%
  1. HDFC Bank share price
  2. 1,509.40 0.97%
Business News/ Industry / Agriculture/  El Nino may return as models signal warming of Pacific Ocean
BackBack

El Nino may return as models signal warming of Pacific Ocean

El Ninos affect weather worldwide and can roil agricultural markets as farmers contend with drought or battle too much rain

Depending on the size of the El Nino, it may push 2014 and, more likely, 2015 up the rankings of warmest years on record, the Goddard Institute’s Gavin Schmidt said on a conference call. Photo: ReutersPremium
Depending on the size of the El Nino, it may push 2014 and, more likely, 2015 up the rankings of warmest years on record, the Goddard Institute’s Gavin Schmidt said on a conference call. Photo: Reuters

Melbourne: An El Nino weather pattern, which can parch Australia and parts of Asia while bringing rains to South America, may occur in the coming months as the Pacific Ocean warms, according to Australia’s Bureau of Meteorology.

Most climate models suggest the tropical Pacific will warm through the southern autumn and winter, the bureau said in a statement on Tuesday. Some models predict this warming may approach El Nino thresholds by early winter, it said. Australia’s autumn runs from March to May and winter is from June to August.

El Ninos, which are caused by the periodic warming of the Pacific, affect weather worldwide and can roil agricultural markets as farmers contend with drought or battle too much rain. An El Nino trend is likely to develop this year, Gavin Schmidt, deputy director of Nasa’s Goddard Institute for Space Studies in New York, said earlier this month.

“Less spring rainfall for the east coast would be the major concern for Australia," said Paul Deane, an analyst at Australia and New Zealand Banking Group Ltd in Melbourne. “It increases the chance that we’re not going to get trend wheat yields, that would be one of the risks. The other one would be on livestock, where you’d have lower pasture growth."

Global food costs tracked by the United Nations dropped 3.4% year amid record wheat and corn harvests. The price of Thai 5% broken white rice, an Asian benchmark, lost 23% to $450 a tonne in 2013. Thailand, Vietnam and India are the world’s biggest rice exporters.

Beef output

In the US, milk futures climbed to a record this month amid drought in California, the biggest producer, while cattle also rallied to an all-time high on lower domestic beef output. In Australia, abattoirs will increase slaughter by 5.6% to 8.9 million head in the year ending 30 June, boosting beef exports to a record, the government estimates.

Most climate models surveyed by the bureau suggest the tropical Pacific Ocean will warm through the southern autumn and winter, the Melbourne-based office said. Some, but not all, models predict this warming may approach El Nino thresholds by early winter. The next update is expected on 11 February.

Depending on the size of the El Nino, it may push 2014 and, more likely, 2015 up the rankings of warmest years on record, the Goddard Institute’s Schmidt said on a conference call. The Earth’s warmest years, 2010 and 2005, were associated with the weather pattern.

El Ninos are associated with drier conditions in Australia, particularly in the country’s east, according to the weather bureau. The pattern occurred in 2009-2010, 2006-2007 and 2002-2003, according to the bureau. Bloomberg

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 28 Jan 2014, 02:23 PM IST
Next Story footLogo
Recommended For You
Agriculture Stocks
₹216.451.46%
₹684.65-0.77%
₹69.871.9%
₹1,771.751.38%
Switch to the Mint app for fast and personalized news - Get App