quote from Understanding ENSO and the Real Effect on Tropical Commoditie by J. Gane Consulting, LLC The production of cocoa, coffee, and sugar, is more effectively analyzed by looking at specific locations in which the crops are grown. The effects of El Niño and La Niña are varied worldwide, and this causes different outcomes on production by region. There are major exceptions to the common thinking that El Niño is simply bad for crops and La Niña is good. For example: oWhen ‗moderate‘ and ‗severe‘ episodes of La Niña are analyzed, the fall in Brazilian Cocoa production is a massive 15% with a strong correlation of 0.936$BARCLAYS BK PLC(CHOC)$ o Chinese sugar output increases by 1.25% with a strong positive correlation of 0.433 during ‗moderate‘ and ‗severe‘ El Niño episodes o El Niño episodes increased Colombian Coffee output by 3.47%, while ‗severe‘ La Niña events reduced it by 5.8%$iPath DJ-UBS Coffee SubTR ETN(JO)$$iPath Pure Beta Coffee ETN(CAFE)$