African Flood and Drought Monitor Used for West African Economic Analysis
Ripe Cocoa Pods Ready for Harvesting.
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UNESCO G-WADI's African Flood and Drought Monitor (AFDM) has been used for a multiplicity of applications. These include studies of drought resilience, infrastructure impacts, epidemics, migration, and child health. The AFDM has also been used by NOAA’s National Centers for Environmental Information (NCEI) as part of their Global Drought Narratives and Global Climate Reports and, in particular, the AFDM’s estimates of the percentage of the Continent experiencing drought is being used to determine monthly trends in African drought.
Recently, another application has been established. The monitor has also been used in market analysis in Western Africa by XTB--a major international investment firm --to contribute to its analysis of cocoa futures in the region.
The firm noted that while the cocoa market had been under pressure due to heavy rainfall in West Africa, which might lead to improved forecasts for quality and quantity of upcoming harvests. However, they also noted that about 75% of Ivory Coast and Ghana was still battling drought conditions, according to data from the AFDM.
This use of the AFDM illustrates its potential utility in the financial sector, especially for crops throughout Africa. (Note: G-WADI takes no position on cocoa or any other futures.)