04.09.2015 - Will El Nino Give a Boost to Commodities?
The National Oceanic and Atmospheric Administration’s (NOAA) latest El Niño update, released Monday, put the chance that El Niño conditions will continue through the winter at 90% and into early spring at 85%. The destruction a severe El Niño can wreak is staggering. A prolonged episode from 1789-1793 has been blamed for a famine in India that killed 600,000. Between 1997 and 1998, an especially severe El Niño caused an estimated 23,000 deaths and $35 billion in damage worldwide. Given the sheer destructive potential of El Niño, it should come as little surprise that it can have a significant economic impact, particularly on commodity prices...............................................Full Article: Source
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