El Nino's impact beyond agriculture to cost billions

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The El Nino weather phenomenon is known to create havoc in global food chain, but its impact is likely to go far beyond, with fish catch, energy prices and poultry supply hit as well.

The impact is likely to be high, affecting energy, food and water in many parts of Asia," Ancha Srinivasan, principal climate change specialist at the Asian Development Bank told CNBC's The Rundown.

The El Nino of 1997 to 1998 caused economic impact of $30-$45 billion and it's likely to be higher this time round as economies have grown since then, said Srinivasan.