Commodities Focus

The next phase of food inflation may be determined as much by energy policy and geopolitics as by crop yields. In this episode of Platts Commodities Focus podcast, the S&P Global Energy news team explores the structural forces reshaping agricultural markets, from tightening global beef supplies and rising biofuel demand to trade tensions between Washington and Beijing and the growing threat of El Niño.
Join Aditya Kondalamahanty, senior editor, agriculture and food, Sampad Nandy, editor, grains and oilseeds, Sayona anna John, editor, protein markets, and Samyak Pandey, senior editor, oilseeds and biofuels markets, as they discuss the intersection of energy policy, weather volatility, and geopolitical conflict with food supply chains, and the implications for consumers, traders and policymakers in the coming year.

The National Oceanic and Atmospheric Administration has forecast high chances of El Nino developing in 2026, potentially disrupting weather patterns worldwide. Renewed weather volatility driven by a strong El Nino is spotlighting supply security, price trends, and export flows across Asian rice markets. As demand for rice stays resilient, market participants are closely monitoring the risks from erratic monsoons, reduced water availability, and rising input costs in major producing countries.
In the inaugural episode of a four-part podcast series on El Nino and its impact on key agricultural commodities, host Asim Anand is joined by Platts price reporters Ayushi Baloni and Muskan Aggarwal, alongside CERA Analyst Dipanshi Agarwal. Together, they discuss how El Nino is reshaping rice production, exports, and pricing across Asia.

Asian LNG markets are facing renewed pressure as the US–Iran conflict raises concerns over supply security and shipping through the Strait of Hormuz. With the initial price shock now absorbed, the focus is shifting to the next phase of the crisis: how the supply-demand balance is evolving and which market signals will drive price direction.
Join Jaime Wong, commodity associate, APAC LNG pricing, Cindy Yeo, price reporter, Suyash Pande, senior price reporter, and James Taverner, executive director, global gas and LNG research, as they examine the market's initial response, the outlook for Asian LNG demand and supply, and what the evolving risk landscape could mean for spot and forward prices.

The Middle East imports the majority of the chicken it consumes, with Brazil the dominant origin and most cargo routed through the Strait of Hormuz to Gulf ports. When that route was effectively disrupted in early March 2026, the Platts CIF Middle East chicken breast assessment moved from $2,320 a tonne in early February to a peak of $3,150 by mid-April — a 36% increase over eight weeks, driven by freight and routing costs rather than any change in supply or demand. This episode traces how that shock travelled through the container freight market, through the poultry benchmark itself, and into a slower-moving story around Brazilian feed and fertilizer costs that could feed back into Middle East import prices in the seasons ahead.
Karan Dadure, associate price reporter covering Middle East poultry markets at S&P Global Energy, joins Arif Islam, Platts price reporter covering shipping freight across the Europe, Middle East, Africa region, and Magdalena Michalik, principal analyst for European proteins at S&P Global Energy, to discuss how the disruption about the Strait of Hormuz repriced Middle East chicken imports, the freight cost dynamics that drove it, and the slower-moving feed and fertilizer story that could shape Brazilian poultry export prices into the 2026-27 season.

India's emerging compliance carbon market under the Carbon Credit Trading Scheme (CCTS) is moving into its early implementation phase, with an intensity-based design that sets operational-level obligations for emission-intensive sectors. The scheme is expected to influence industrial planning, capital allocation, and trade competitiveness. The stakeholders need clarity on how the market will work in practice, what signals it will send on carbon pricing, and how credible emissions accounting will support trust and investment.
Vipul Garg, Platts senior price reporter, environmental markets at S&P Global Energy, joins Prabhoda Acharya, Chief Sustainability Officer at JSW Group, one of India's largest industrial conglomerates, with its major entities -- JSW Steel and JSW Cement -- expected to participate in India's emerging carbon market framework and Anirudh Iyer, Platts senior carbon price reporter to discuss the role of strong Monitoring, Reporting and Verification (MRV) and liquidity for market functioning, near-term implementation challenges, genuine emissions reduction through Europe's Carbon Border Adjustment Mechanism (CBAM) and Article 6 mechanisms.