The dreaded El Niño weather phenomenon is set to appear during the second half of the southwest monsoon, which may cause less-than-expected rains in August and September. El Niño had earlier hit the Indian monsoon in 2009, when the country faced a severe drought. This time, its impact is not clear as of now, but if there are excessive breaks in the monsoon, crops of paddy, oilseeds and pulses could...
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Urgent action called for to run down 75-million tonne grain heap-Ashok Gulati
-The Economic Times Grain stocks with state agencies are likely to cross 75 million tonnes some time in June 2012, while covered capacity to store is less than 50 million tonnes. The rest would be under CAP (with pucca or even kachcha plinths) exposed to potential large-scale damage. An early and rational policy decision is required to reduce the stocks by at least 7-10 million tonnes to avoid high costs of...
More »How normal monsoon could impact agriculture, inflation, income & storage-Mishita Mehra
Last week, the Indian Meteorological Department (IMD) released its first annual monsoon forecast for June-September. Monsoons are likely to be normal with the probability of deficient or excessive monsoons being relatively low, according to IMD. If this prediction comes true, what does this really mean for India's economy? Impact on agricultural output: The first and most important impact is, of course, on agricultural production, especially in the kharif or summer season....
More »Brace for price rise, kharif MSP may be raised up to 30%-Rituraj Tiwari
Consumers may have to pay substantially more for pulses, oilseed, and rice in the coming months if the government accepts the recommendations of an expert panel to increase farm-gate price of these commodities by up to 30%, further stoking food inflation. The Commission on Agricultural Costs and Prices (CACP), under the ministry of agriculture, has recommended a 25% rise in the floor price of cotton, 16% rise in paddy, 30% rise...
More »Offset ban on cotton export by raising floor price by 10%: CACP-Nidhi Nath Srinivas
The government should immediately announce a 10% increase in the floor price of cotton and rice to protect farmer incomes if it imposes a ban on the export of these commodities, India's two most economically significant cash crops, according to the Commission of Agricultural Costs and Prices (CACP), a body which advises the government on the pricing policy for major farm produce. "Any ban on export is an implicit tax on...
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