
Temperature has become a better predictor than rainfall of India’s farm sector-driven economic outcomes. And our heat problem worsens in El Niño years. As we enter a season of overlapping shocks, estimates for 2026-27 show the damage we can expect.

More than half of the Middle East’s urea output may have been lost since the start of the Iran conflict, which is continuing to disrupt fertilizer flows from the region and threatening global food inflation.