More Than 70% OF Colombian Land in Forest Fire Alert To the El Niño
More Than 70% OF Colombian Land in Forest Fire Alert To the El Niño
Bogota (Coffee Network)- El Niño weather phenomenon is already taking a toll on Colombian land as several forest fires have been present since last week due to extreme heat and lack of rainfall .
Colombia is going through a high alert season with more than 70% of the country is under some type of forest fire alert.
The city of Bucaramanga and the municipalities of Piedecuesta and Floridablanca registered a daring forest fire that ended with 30 hectares of land. Bogota has registered three forest fires and fireman have not been able to control it.
In Bogota firefighters have spent more than 24 hours trying to control the flames in the Eastern Hills of the Colombian capital, specifically in the town of Chapinero, which have not been able to calm down.
Between November 3, 2023 and January 20, 2024, 237 forest fires have been reported affecting 131 municipalities, according to the risk and disaster government entity
Out of the 1,100 municipalites that the country has, a total of 495 are on red alert, 179 on orange alert and another 73 on yellow alert. There are three phenomena that are contributing to the emergency. In addition, 47 municipalities are threatened by landslides, 13 are on red alert, and there are low levels in the Magdalena and Cauca basins.
Although fires have not been reported yet in coffee-towns, the weather institute said the El Niño weather phenomenon will last until April.
Coffee-producing provinces are registering a uptick increase in broca, a worm that eats the kennels affecting coffee quality. The spread of broca, also known as the coffee berry borer, is affecting the quality of beans in key departments of Colombia, according to coffee growers and coffee cooperatives.
High temperatures across Colombia, associated with the El Niño weather phenomenon, have prompted the spread of broca, which is affecting the quality of beans, resulting in higher-yielding factors.
Pedro Echavarria, a large coffee grower in Antioquia, the second-largest coffee producing province, said the main harvest in Antioquia finished in December with scant labour force, prompting the drop of beans to the floor. According to Echavarria, broca hits 10% to 15% of plantations, resulting in an increase in the yield factor from 103 to 108 points, “impacting hard prices.”
By Diana Delgado
The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI . StoneX is a trading name of StoneX Financial Ltd (“SFL”). SFL is registered in England and Wales, Company No. 5616586. SFL is authorized and regulated by the Financial Conduct Authority [FRN 446717] to provide to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. SFL is also authorised to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. SFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. SFL is a category 1 ring-dealing member of the London Metal Exchange. In addition SFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorised by the Financial Conduct Authority. StoneX Group Inc. acts as agent for SFL in New York with respect to its payments services business. StoneX APAC Pte. Ltd. acts as agent for SFL in Singapore with respect to its payments services business. ‘StoneX’ is the trade name used by StoneX Group Inc. and all its associated entities and subsidiaries.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. Past performance of any futures or option is not indicative of future success. Indicators are not a trading system and are not published as a specific trade recommendation. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.
© 2024 StoneX Group Inc. All Rights Reserved.