See the full story in the original article.
Read the original on wkzo.com ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- 'Super' El Niño may soon make your coffee super expensive
Agricultural markets worldwide are already facing record-high diesel prices and high fertilizer costs. The article says a 'super' El Niño is almost guaranteed to worsen conditions for farmers and consumers.
- Tourist attractions shut and cattle starving : How El Niño is wreaking havoc around the world
This year's exceptionally strong El Niño, amplified by climate change, is driving extreme weather around the globe. It adds a 'terrifying' level of risk to coral reefs, where UN nature panel chair David Obura says reef-building species have sharply deteriorated since the 2008 census, with 44% now threatened with extinction. In El Salvador, August temperatures were 4.3°C above normal and livestock are suffering from the drought, while in Argentina the Iguazu River flowed at six times its normal rate, forcing tourist trails to close and prompting evacuations near the Paraná River. UN development chief Alexander De Croo warns that El Niño, combined with high energy costs and interest rates, could push millions into poverty, and severe drought is affecting more than half of Sudan. Whether it sets a record depends on how it is measured: Britain's Met Office calls it 'unprecedented', while US forecasters have not declared one yet, though NOAA expects it to surpass the strongest event in its dataset, from 1982.
- What NOAA 75 % El Niño Probability Means for Coffee , Food , and Remittances Across Latin America
NOAA raised its odds that the 2026 El Niño will break every record since 1950 to 75% in its September 10 update, up from 69%, with eastern equatorial Pacific sea surface anomalies already above +3.0°C. Colombia's 2026 coffee crop is forecast at 12.5 million bags, down 8% from 13.7 million in 2025, and the National Federation of Coffee Growers says El Niño, not the magnitude 7.4 earthquake on August 10, is the main threat. Bank of America ranks Colombia the most inflation-vulnerable economy in the region, with inflation potentially rising by up to 1.8 percentage points under a severe El Niño, as the peso touched 3,205 per dollar. In Argentina, about 10 million tons of wheat, roughly 35% of the projected harvest, could face flood risk in vulnerable zones, though El Niño is seen as broadly positive for the season due to higher rainfall.
- Paraguay El Niño Flood Warning Cites 1983 Levels
Paraguay's emergency minister, Arsenio Zárate, warned on Thursday, 15 October, that an El Niño flood could reach levels comparable to 1983, when the Paraguay River at Asunción peaked at a record 9.01 metres. The river stood at 2.29 metres on Wednesday after rising 21 centimetres in a day, and about 3,300 families in low-lying riverside districts could be affected if it reaches 3.5 metres. Asunción's council approved an emergency declaration with a G. 7,000 million (about US$1.2 million) budget for supplies and repairs, while Defence Minister Óscar González said the Chacarita district worries him greatly. NOAA rates a strong to very strong El Niño as likely, and its next update is due on Thursday, 12 November.
- Food inflation risks rise as war and El Niño strain supplies
FAO chief economist Máximo Torero warned food inflation could intensify late this year and persist into 2027 due to shipping disruptions, expensive farm inputs and El Niño. The FAO Food Price Index averaged 136 points in September, up 1.5% from August and 5.8% from a year earlier, though still 15.1% below its March 2022 peak. In the U.S., grocery prices fell 0.1% in September while overall consumer prices rose 0.6% and reached an annual rate of 3.7%. FAO forecast a 2026 cereal harvest of 2.979 billion metric tons, 2.1% below the previous year's record. The U.S. Climate Prediction Center put the probability of a strong-to-very-strong El Niño lasting through January–March 2027 at greater than 83%.
- Global food inflation expected to intensify as supply shocks mount
FAO chief economist Maximo Torero warned that global food inflation is poised to accelerate in the coming months and persist into 2027, as war-related shipping disruptions and El Niño-driven drought squeeze cereal supplies. Rice prices in Indonesia hit record highs, bread in Egypt rose by a quarter, and sugar in India reached a record after the weakest monsoon in more than a decade. The World Bank found that food prices in the September quarter outpaced headline inflation in 22% of the 150 countries it analysed, up from 14% in the previous quarter. The FAO Food Price Index averaged 136 points in September, its highest since November 2022, and the world's poorest consumers are being hit hardest.
Related markets
Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.