Despite the fact that prices for fertilizers and grains have fallen sharply after peaking in 2022, the global grain market remains under threat not only due to geopolitical tensions but also due to climate change, wrote Forbes.ru in a report on climate change and global markets. After three consecutive years of unfavorable conditions of the weather phenomenon La Niña (cooling of the surface of the Pacific Ocean), meteorologists warn of a growing likelihood this year of the opposite phenomenon – El Niño, which causes a warming effect.
Joseph Glauber, a senior research fellow at the International Food Policy Research Institute, warned global grain stocks remain low and prices are volatile. “If there is a drought or a significant weather event in the spring,” prices will rise sharply, Glauber said.
Republished in BPN as “The global grain market is under threat – and geopolitical tensions are not the only reason.”