# Two global weather bodies declare El Nino ‘watch’ - The HinduBusinessLine

> Australia's Bureau of Meteorology and Japan's Meteorological Agency have declared El Niño watch, giving a 50% chance of the event developing in the second half of 2023. The US Climate Prediction Center forecasts El Niño forming in July-September and strengthening, while the WMO urges caution due to the spring predictability barrier.

- Date: 2023-03-14 · published 2023-03-14T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/36759-two-global-weather-bodies-declare-el-nino-watch-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A developing El Niño raises risk of drought in Southeast Asia, India and Australia, which could support palm oil, rice and wheat prices later in the year.

## Read by commodity

- RICE: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-09-11 | [La Nina may disrupt global food supply  - The HinduBusinessLine](https://feedsoft.ai/events/51042-la-nina-may-disrupt-global-food-supply-the-hindubusinessline.md) | +4.0% | +1.6% |
| PALMOIL | 2023-11-23 | [El Nino poses risk to 2024 palm oil output in Indonesia, Malaysia - The HinduBusinessLine](https://feedsoft.ai/events/33277-el-nino-poses-risk-to-2024-palm-oil-output-in-indonesia-malaysia-the.md) | -0.7% | -3.3% |
| PALMOIL | 2026-10-27 | [From maize to coffee, El Nino likely to affect various crops across the world - The HinduBusinessLine](https://feedsoft.ai/events/17051-from-maize-to-coffee-el-nino-likely-to-affect-various-crops-across-the-world.md) | +0.8% | — |
| PALMOIL | 2021-01-04 | [La Nina to take hold of agri markets in 2021  - The HinduBusinessLine](https://feedsoft.ai/events/5000-la-nina-to-take-hold-of-agri-markets-in-2021-the-hindubusinessline.md) | +10.0% | -0.2% |
| PALMOIL | 2021-04-22 | [Data show tight supplies, not speculation, driving soyabean prices - The HinduBusinessLine](https://feedsoft.ai/events/47625-data-show-tight-supplies-not-speculation-driving-soyabean-prices-the.md) | +0.6% | +12.9% |
| RICE | 2023-03-10 | [Shadow of El Nino over growth - The HinduBusinessLine](https://feedsoft.ai/events/36764-shadow-of-el-nino-over-growth-the-hindubusinessline.md) | +8.0% | +3.9% |
| RICE | 2023-02-27 | [What if El Nino materialises in 2023? - The HinduBusinessLine](https://feedsoft.ai/events/37250-what-if-el-nino-materialises-in-2023-the-hindubusinessline.md) | +1.2% | +6.4% |
| RICE | 2023-07-14 | [Indian rice prices up 10% in global market, affect export demand - The HinduBusinessLine](https://feedsoft.ai/events/5097-indian-rice-prices-up-10-in-global-market-affect-export-demand-the.md) | -16.0% | -15.2% |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/economy/agri-business/2-global-weather-bodies-declare-el-nino-watch/article66618908.ece

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.