The US Climate Prediction Center (CPC) released its monthly report on Thursday local time that the El Ni ñ o phenomenon does exist and is likely to intensify gradually between 2023 and early 2024. According to forecasts, between November this year and January next year, the probability of super-strong El Ni ñ o is 56%, and the probability of exceeding medium intensity is 84%. This could lead to a 34 per cent drop in winter crop yields in Australia from record highs and affect palm oil and rice production in Indonesia, Malaysia and Thailand.