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LATEST NEWS UPDATES | Heavy rains in India damage key crops ahead of harvest, threatening to stoke food inflation -Rajendra Jadhav

Heavy rains in India damage key crops ahead of harvest, threatening to stoke food inflation -Rajendra Jadhav

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published Published on Oct 10, 2022   modified Modified on Oct 11, 2022

-Reuters/ThePrint.in

State like UP has received 500% more rainfall than normal so far in October. Higher food prices could prompt India to slap additional restrictions on exports of food commodities.

Mumbai: Heavy rainfall in India has damaged key summer-sown crops such as rice, soybean, cotton, pulses and vegetables just before harvesting, which could stoke food inflation in Asia’s third biggest economy, farmers, traders and industry officials said.

Higher food prices could prompt New Delhi to slap additional restrictions on exports of food commodities such as rice, wheat, and sugar, and potentially force the Reserve Bank of India to raise interest rates again.

“There has been so much rainfall from the last one week that now we can see sprouts from the paddy seeds,” said Narendra Shukla, a 36-year-old farmer from Barabanki in Uttar Pradesh.

The entire paddy crop, which could have been harvested in a fortnight, has flattened and Shukla is now waiting for the weather to clear so he can finish the task and plant potatoes.

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ThePrint.in, 10 October, 2022, https://theprint.in/economy/heavy-rains-across-india-damage-crops-ahead-of-harvest-threatening-to-stoke-food-inflation/1161730/


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