Simple_Guy
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Farmlands in India, Pakistan, Bangladesh, Sri Lanka, Nepal, the Maldives, Myanmar and Afghanistan will most probably get "below-normal to normal rainfall" amid consensus among experts about the possibility of the El Nino during the June-September monsoon season, the South Asian Climate Outlook Forum said in a statement in Pune, India yesterday. Rain is seen below normal in western, central and southwestern parts of South Asia, it said.
"If there is a shortfall to the monsoon, the inflation will spike up again. Because there are very few drivers to growth, if the monsoon fails, it will dent growth as well." Risks to inflation arise from guaranteed prices for farm products, higher energy costs and government spending on subsidies, Rajan has said. There is also a threat from less-than-normal rains due to possible El Nino effects, he said.
"Oilseeds, lentils, sugarcane and cotton are the major crops that could be in trouble in India," said Prerana Desai, research head at Kotak Commodity Services Ltd. in Mumbai. "Last year soybeans were damaged due to late rains. Damage to the crop for two consecutive years will be a matter of worry."
Monsoon rainfall was the least in almost four decades in 2009, when El Nino occurred last, data show. Rice and oilseed harvests fell 10 percent, Agriculture Ministry data show.
Businessweek
"If there is a shortfall to the monsoon, the inflation will spike up again. Because there are very few drivers to growth, if the monsoon fails, it will dent growth as well." Risks to inflation arise from guaranteed prices for farm products, higher energy costs and government spending on subsidies, Rajan has said. There is also a threat from less-than-normal rains due to possible El Nino effects, he said.
"Oilseeds, lentils, sugarcane and cotton are the major crops that could be in trouble in India," said Prerana Desai, research head at Kotak Commodity Services Ltd. in Mumbai. "Last year soybeans were damaged due to late rains. Damage to the crop for two consecutive years will be a matter of worry."
Monsoon rainfall was the least in almost four decades in 2009, when El Nino occurred last, data show. Rice and oilseed harvests fell 10 percent, Agriculture Ministry data show.
Businessweek