Recently, the World Meteorological Organization (WMO) released a report stating that the El Niño phenomenon, which has triggered extreme weather events, will weaken and transition to La Niña later this year. The “return” of La Niña may bring global cooling after record-high temperatures.

The Deputy Secretary-General of the World Meteorological Organization stated that the end of the current El Niño phenomenon does not mean that the long-term climate change process has paused. Due to greenhouse gas emissions, the Earth will continue to warm. Additionally, with extra heat and moisture in the atmosphere, the weather is expected to become more extreme in the coming period.

The latest report indicates that Australia, West Africa, and Asia will experience relatively abundant rainfall, and the number of tropical cyclones (typhoons) will increase. This will benefit the growth of crops such as wheat in Australia, and palm oil, cocoa, and coffee in Asia and Africa.

Moreover, in recent times, affected by weather factors, international prices of agricultural products such as coffee beans, cocoa, and wheat have remained high. If adverse climate impacts on major global producing regions intensify in the second half of the year, it could further drive up agricultural product prices.

According to local reports, traditional Robusta-producing regions in Brazil, such as Minas Gerais, have begun research on Robusta coffee cultivation. Under favorable conditions, the yield can reach 120 bags per hectare.

The Gulf of Mexico is a common landing site for Atlantic hurricanes, and offshore oil production in the Gulf accounts for 17% of total U.S. crude oil production, with over 45% of the country’s total refining capacity located along the Gulf Coast. If a hurricane destroys infrastructure in the Gulf, it could lead to a rise in global crude oil prices.