What can Asia’s businesses expect from El Nino’s impact on food prices?
To soften cost pressures, firms should identify commodities exposed to both climate and policy risks early
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THE Monetary Authority of Singapore’s policy statement on Jul 27 flagged that adverse weather conditions in Singapore’s import sources are expected to lower agricultural output and raise food prices.
Food, retail and other goods inflation is expected to increase alongside the pass-through of imported costs.
The relief that washed through agricultural commodity markets following the easing of the Iran conflict in June also proved short-lived, as renewed tensions in the Middle East have again raised the risk of higher input costs and supply chain disruptions.
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