A historically unprecedented Pacific warming cycle is converging with Middle East conflict to deliver a double shock to the world's food supply chains.
In the summer of 1876, an El Niño-driven drought killed more than six million people in India alone. Now, economists are warning that the 2026–27 El Niño — already being described informally as a "super" or "Godzilla" event — could deliver a food-price shock severe enough to last well into 2028, at a moment when households from Lagos to Lima are already struggling with elevated living costs. The warning carries unusual precision. Last month, the US National Oceanic and Atmospheric Administration (NOAA) confirmed that warming conditions were taking hold across the central and eastern equatorial Pacific, and that there was a 63% chance of sea surface temperatures exceeding 2°C above normal before the end of the year.
That threshold matters: analysts at Goldman Sachs have calculated that an event of this magnitude could drive a 15.8% surge in global food commodity prices. The mechanism is well understood — warmer Pacific waters distort rainfall patterns across four continents simultaneously, hitting wheat fields in India, sugar cane in Brazil, and grain harvests across southern Africa. Parts of India have already received only half their normal monsoon rainfall this season.
What makes the current situation especially dangerous, according to economists, is the collision of two separate crises. Iran-related conflict has already pushed world food prices to their highest level in three years, and an extreme El Niño would arrive on top of that existing pressure — what analysts are calling "two shocks at once." UniCredit researchers in Italy have warned that the phenomenon puts "climateflation" back firmly on the agenda, noting that Europe's recent heatwaves show the climate baseline is already shifting before El Niño even peaks. Central banks are paying close attention: a renewed inflation surge could force interest rates to remain elevated far longer than markets currently expect, turning a weather event in the Pacific into a monetary-policy problem felt in every economy on earth.