PETALING JAYA: The effects of El Niño are expected to continue through the second quarter of this year, reducing the production of key commodities, including rice, palm oil and sugar, according to IHS Global Insight Asia-Pacific chief economist Rajiv Biswas.
The total economic cost of the El Niño effect on Asean economies is estimated to exceed US$10bil and could rise further if the El Niño effect persists beyond the second quarter.
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