S&P Global warns El Nino could raise Asia food prices
Business
S&P Global Ratings says households in India, Indonesia, Vietnam, and the Philippines might see food prices jump later this year as the El Nino weather pattern peaks.
Less rainfall means smaller harvests and higher grocery bills, while hydropower shortages could also affect industries that rely on water and energy.
South and Southeast Asia are especially exposed to these risks.
Countries shore up food supplies
To soften the blow, countries like India are stocking up on grains, upgrading irrigation systems, and working closely with farmers to protect crops.
Others in the region are boosting food reserves, improving import plans, and managing water resources more carefully, all aimed at keeping shelves stocked and prices steadier even if El Nino brings tough conditions.