El Niño's 'sweet tooth' means indulgent treats could soon be even more expensive
Publishing timestamp: 2023-12-24 20:00:38
Summary
The article discusses the significant gains in futures contracts for orange juice, cocoa, coffee, and sugar due to extreme weather and supply concerns related to El Nino. It explains that El Nino has caused dryness in Southeast Asia, India, Australia, and parts of Africa, supporting the price rally for soft commodities. The article also mentions the potential impact of El Nino on crops in the coming year and warns that consumers may experience higher prices for chocolate and other commodities in 2024.
Sentiment: MIXED
Tickers: @KC.1, @CC.1, @SB.1, @OJ.1,
Keywords: orange juice (mar'23), agriculture, natural disasters, weather, business news, coffee (may'23), commodity markets, cocoa farming, sugar (mar'23), climate, el nino, cocoa (may'23), orange juice markets,