August ENSO (El Niño-Southern Oscillation) forecast updates are pointing towards a Very Strong El Niño event later in the year. This might trigger extreme and potentially destructive weather globally. An average of multiple global models indicates a peak in December at +2.3°C. Significantly, this has increased since the previous update in July, when the average peak was +1.99°C.
Mintec is closely tracking these global forecast models as well as the current impacts of adverse weather within the monthly Global Weather News report. The outcome of this forecast is crucial to understand the potential global impacts on commodities over the coming months as the El Niño strengthens.
Click here to read the full article.
Source: mintecglobal.com
