MUMBAI, 29 May (Commoditiescontrol): Arrival of monsoon rains is crucial for India's rain-fed agriculture sector. It is more essential this time given the rise in temperature level. Well! the good news is: the await will end soon. On Tuesday, the India Meteorological Department (IMD) announced that conditions are becoming favorable for the onset of the Southwest Monsoon over Kerala within the next 3-4 days.
The monsoon's progression is expected to cover more regions, including parts of the South Arabian Sea, Maldives, Comorin area, Lakshadweep, Kerala, as well as various sections of the Bay of Bengal and Northeastern states during the same period, according to the IMD.
Forecasts indicate "above normal" rainfall during the June-September monsoon season, which is expected to enhance agricultural productivity and potentially ease inflationary pressures while supporting economic growth. This positive outlook follows a challenging 2023, where the El Nino effect resulted in uneven rainfall, affecting crop yields and increasing food prices. This situation also constrained the central bank's ability to lower interest rates.
The IMD's second forecast for the season predicts that rainfall will be 106% of the long period average (LPA), with a 4% margin of error, consistent with the first forecast. The IMD classifies average or normal rainfall as falling between 96% and 104% of a 50-year average of 87 cm for the season.
(By Commoditiescontrol Bureau; +91 98201 3018)
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