El Nino, a climate pattern that occurs on average every two to seven years, is typically associated with warming ocean surface temperatures in the central and eastern tropical Pacific Ocean.
The phenomenon, which can last between nine to 12 months, started in July, according to the UN’s World Meteorological Organization.
The FAO’s Sugar Price Index has now risen for two consecutive months due to increasing concerns over a tighter global supply outlook in the 2023-2024 season.
“This mainly reflects early forecasts pointing to production declines in key sugar producers, Thailand and India, due to drier-than-normal weather conditions associated with the prevailing El Nino event,” the FAO said.
“Higher international crude oil prices also contributed to the increase in world sugar prices,” it added.
