-Reuters A shortfall in monsoon rains has widened to nearly 50 percent of average in the past week, making a revival next week crucial for farmers to sow summer-planted crops such as rice, corn, cane, cotton and soybean. The annual rains are crucial for farm output and economic growth as about 55 percent of the South Asian nation's arable land is rain-fed. Farm sector accounts for about 15 percent of a nearly $2-trillion...
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Elusive monsoon-Devinder Sharma
While any loss in production following the dry spell will further hit the growth story, it will also push up food inflation. considerably. Once again the rain gods are playing truant. With 31 per cent shortfall in June, and with an expectation of only 70 per cent of the predicted 96 per cent rainfall for the July-August months, crucial for farming operations, kharif sowings have already been hit. In June alone,...
More »Government clears 2 million tonne of wheat exports to ease storage crunch
-NDTV The government has approved export of two million tonnes of wheat from central pool stock in order to clear storage space for new crops. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) in Delhi today. "CCEA has approved export of two million tonnes of wheat from government stock with floor price of $ 228 (about Rs. 12,400) per tonne," Food Minister KV Thomas told PTI after the meeting. The...
More »World braves one of the worst summers; May temperature second hottest since 1880
-The Economic Times It's not just India that is baking. Globally, this seems to be one of the worst summers in recorded history. The global average temperature for May was the second hottest ever since 1880 - the year records were first compiled -- US National Climatic Data Centre (NCDC) has said. Only 2010 witnessed a worse May. The NCDC said such a hot May was never recorded in the northern hemisphere. No...
More »30 per cent below
-The Business Standard The government must prepare for below-normal monsoon A massive 30 per cent deficiency in the monsoon rainfall in June, coupled with an anticipated low precipitation in September, may add to the government’s difficulties in achieving its growth and fiscal deficit targets. Agriculture may not be the only victim of poor rainfall. Its contribution to gross domestic product (GDP) may have dipped to mere 15 per cent but it still...
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