IREF in pact with S&P Global Energy to study El Nino impact on global rice market
IREF has partnered with S&P Global Energy to assess El Niño risks to the global rice market. Global rice production is projected to fall by 9 million tonnes in 2026-27, while NOAA forecasts a 97% probability of El Niño persisting into early 2027, raising concerns over production, trade and food security.
The Indian Rice Exporters Federation (IREF) has entered into a collaboration with S& Global Energy to assess the risk to the global rice market due to El Nino.
A statement from IREF said global rice production is projected to decline 9 million tonnes (mt) in the 2026-27 marketing year (October-September) as El Nino, rising input costs and geopolitical tensions reshape production and trade.
With the National Oceanic and Atmospheric Administration (NOAA) of the US forecasting a 97 per cent probability of El Nino persisting into early 2027, it becomes crucial for the paddy crop that depends on stable weather patterns. “This raises critical questions about production, trade flows, food security and prices,” it said.
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Source : The Hindu Businessline
