Close Menu
The Central Wire
  • Home
  • News
  • Editorial
  • Business
  • Sci-Tech
  • Entertainment
  • Sports
  • Opinion
  • Markets
  • Automotive
  • Lifestyle
  • Tech Reviews
Facebook
The Central WireThe Central Wire
Subscribe
Monday, June 9
  • Home
  • News
  • Editorial
  • Business
  • Sci-Tech
  • Entertainment
  • Sports
The Central Wire
  • Home
  • News
  • Editorial
  • Business
  • Sci-Tech
  • Entertainment
  • Sports
Home - Economy - ‘Monsoon pause delays sowing, spikes food prices’

‘Monsoon pause delays sowing, spikes food prices’

Economy 28/06/2024Sunil GarnayakBy Sunil Garnayak2 Mins Read

The stalled monsoon has delayed Kharif crop sowing and the persistent heat wave in parts of India is fuelling food price hikes, particularly in vegetables, whose average retail prices rose by about 45.1% this month, economic researchers noted on Monday.

Following a rapid onset to cover half the country in the first half of June, there was no further advance of the monsoon over the past week, and cumulative rainfall was 18% below the long period average as of June 23, Barclays India economists Shreya Sodhani and Amruta Ghare pointed out in a report.

Rains have been particularly scanty in the central region, while they were normal in the south. Consequently, reservoir storage levels were below historical averages and last year’s level as of June 20, with storage in 146 key reservoirs at about 21% of total capacity.

“The stalled rainfall across majority of the country has led to a delay in Kharif sowing and a significant delay will impact food output and the Rabi sowing season, as farmers will have less time to prepare their fields after the Kharif harvest,” said a report by Emkay Global Financial Services.

The delayed monsoon progress has also led to persisting heatwave conditions, leading to lower supply of vegetables in particular, along with pulses and cereals, the report noted. Average retail prices were up 9.4% for cereals, 13.5% for pulses and 45.1% for vegetables. On a weekly basis, vegetable prices were up 9.7% last week, Emkay’s analysts estimated. 

Retail food prices were up 8.7% in May, with vegetable prices rising 27.3%. At the wholesale level, vegetables inflation had hit a nine-month high of 32.4%.

“Vegetable prices may decline from August, if the monsoon picks up; however, prices of milk and pulses will stay high due to tight supplies. Cereals could also see elevated prices, with the government announcing a 5.4% increase in MSP for paddy for the current Kharif marketing season,” the Emkay report said.

Barclays India expects a marginal impact on headline inflation from the recent hike in minimum support prices for the kharif crop as the increases were relatively lower for most crops compared with last year. 

Stressing that it is “still early in the season”, Ms. Sodhani and Ms. Ghare noted that crop sowing is usually done between July and August that normally receive the maximum rains of the season. The India Meteorological Department has forecast an ‘above normal’ monsoon for this year.

source

Sunil Garnayak
Sunil Garnayak

Sunil Garnayak is an expert in Indian news with extensive knowledge of the nation’s political, social, and economic landscape and international relations. With years of experience in journalism, Sunil delivers in-depth analysis and accurate reporting that keeps readers informed about the latest developments in India. His commitment to factual accuracy and nuanced storytelling ensures that his articles provide valuable insights into the country’s most pressing issues.

Previous ArticleRupee opens flat against US dollar in early trade
Next Article NSE chief cautions retail investors against derivatives trading

Keep Reading

Online Gaming Faces Rs 81,875 Cr GST Evasion Crackdown

Census 2024 to Launch Amid Caste Column Debate

Why the GST Council recommended biometric-based Aadhaar authentication for new registrations: Explained

DMCA.com Protection Status
World At a Glance

Ireland Hate Speech Law Shelved After Controversy

22/09/2024

Russian Airstrike Hits Kharkiv, Injuring 12 Civilians

22/09/2024

Ukraine War: Russia Rejects Peace Talks in Diplomatic Blow

22/09/2024

France Right-Wing Government Rises Amid Political Deadlock

22/09/2024

Ukraine War: Allies’ Support Key to Victory, Zelenskyy Warns

22/09/2024
Trending Now

Armani/Caffè Debuts in Mumbai, Redefining Luxury Dining

13/09/2024

Friday the 13th: Superstition, History, and the Internet’s Obsession

13/09/2024

Paris Paralympics 2024: India’s Record 29 Medals Achieved

09/09/2024

All the Winners (and EGOTs) of the 2024 Creative Arts Emmys

09/09/2024

Gillian Anderson’s Evolution: From Iconic TV Star to Advocate for Women’s Sexual Liberation

09/09/2024
TCW LOGO
  • World Today
  • India Today
  • Sports
  • Entertainment
  • Business
  • Gadgets Review
  • Car Review
  • Bike Review
  • Mobile Review
  • Tablet review
  • Editorials
  • Opinion
  • Editor's Choice
  • Explained
  • Trending Now
© 2025 The Central Wire or its affiliated companies. All rights reserved.
  • Privacy Policy
  • Terms
  • About Us
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.