If Jatin Singh is right in the long run and his morphed business can help reduce farmer distress, Skymet will provide a service of far more value from where it began
India's leading commodity exchange, National Commodity and Derivatives Exchange (NCDEX), and private weather forecasting company Skymet took a significant step towards launching the country's first tradeable weather index on Monday (August 14) by entering into an agreement to deepen their understanding of the impact that weather has on agricultural commodities. The memorandum of understanding (MoU) between NCDEX and Skymet is a profound step in the direction of linking farmers with the weather in a scientific way, according to an official statement. Sources indicate that NCDEX and Skymet will conduct workshops and seminars across the country to educate farmers about how they can scientifically use weather forecasts to hedge risks.
The minimum temperature in Delhi was recorded at 28.6 degrees Celsius, according to the India Meteorological Department (IMD).
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An El Nino is a temporary change in the climate of the Pacific Ocean, in the region around the equator.
The official India Meteorological Department (IMD) and the private Skymet Weather Services have made widely divergent monsoon forecasts.
Delhi is experiencing its first heatwave of the season, with temperatures reaching 40.2 degrees Celsius. Doctors have warned that exposure to extreme heat can lead to a range of health issues, from mild rashes and muscle cramps to serious conditions like heat exhaustion and heatstroke. They advise staying hydrated, avoiding outdoor activities during peak hours, and wearing light, breathable clothes. Vulnerable groups like children, the elderly, and those with pre-existing conditions are at greater risk.
IMD data shows in the 24 hours between September 1 and 2, Haryana received 806 per cent more rainfall than normal, Punjab 759 per cent, Himachal Pradesh 510 per cent, Delhi 740 per cent, Chandigarh a staggering 1,638 per cent, and Rajasthan 193 per cent.
IMD will present its month-wise and region-wise forecast in June.
Monsoons have had limited effect on market returns for a given year, report Sachin Mampatta and Sundar Sethuraman.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
The weather department has said that the skies are expected to be partly cloudy for the next few days in Delhi.
Temperatures in March will be critical to determining the impact of any unusual heatwave conditions on this year's wheat crop in North India. It is that time of the year when the crop enters its vital grain-filling stage, say meteorologists and crop experts. So far, the high day temperatures in the North are not believed to have any significant impact on the final yields since the crop hasn't entered a stage where heat affects yields.
Though their intensity has been less so far and the exact impact on the crop is not yet known.
Incessant rain has lashed parts of Mumbai on Tuesday morning, disrupting local train services and road traffic with water logging in several low-lying areas. The weatherman has predicted widespread rainfall in the state during the next 36 hours.
'Cyclone Nisarga will pass by Mumbai, Thane, Kalyan, Panvel and Navi Mumbai by a safe distance,' says Air Vice Marshal G P Sharma (retd), President, Meteorology and Climate Change, Skymet Weather Services,
Weather watchers said it can't be known till May whether El Nio will impact the monsoon or not.
In what could come as a major disappointment for fans across the globe, awaiting the highly anticipated clash between India and Pakistan at the Eden Gardens, the city of Kolkata witnessed rains and drizzle on Saturday morning.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
'Expect very heavy rainfall at some places in Uttar Pradesh and Bihar along with sub-Himalayan West Bengal comprising of Alipurduar, Cooch Behar, Darjeeling, Kalimpong, Siliguri, Jalpaiguri, including Sikkim, parts of Arunachal Pradesh, and parts of lower Assam, Rangia downward like Barpeta, Goalpara, Dhubri along with parts of Meghalaya.'
On Sunday, too, a drizzle resulted in an increase in humidity, triggering a massive pollution spike.
Floods in West Bengal have claimed over 40, with water levels rising arlamingly in East Midnapore, North and South 24 Parganas, Hooghly, Howrah, Birbhum and Burdwan districts.
'It could rain about 200 mm in short span of time.'
Monsoon is expected to cover central and eastern India after Tuesday.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
Simultaneous activation of both Arabian Sea and Bay of Bengal low-pressure systems has led to the state receiving an excess 65 per cent rainfall.
They are worried at more than one forecast of a possibly weak monsoon, reports Dilip Kumar Jha.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
Some low-lying places like Hindmata, and areas in Dadar and Sion, including the Gandhi Market and road number 24 in Sion, were inundated, forcing pedestrians to wade through the water and making it difficult for motorists to commute.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
Incessant rains since the wee hours of Friday threw normal life out of gear in Mumbai
Though the summer is expected to be hotter, global and domestic forecasts point to good rains.
Gold prices this year are higher than last year, and the goods and services tax is an additional burden for consumers
Private weather agency Skymet said Mumbai is at 'serious risk of flooding' between July 3 and 5.
There will be pressure on the fiscal situation, especially at a time when the monsoon can also disappoint. More populist expenditure is on cards if the mandate is a hung Parliament or a coalition government.
Waterlogging was reported from areas like Dadar, Wadala, Worli, Kurla, Chembur, Bandra, Andheri, Kandivili, Vikhroli, Kanjurmarg and Bhandup, among others.
There are a few factors that can spoil the party
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
Heavy rains lashing Mumbai since Sunday have thrown rail, air and road traffic out of gear, with several trains and flights being cancelled. With IMD forecast of heavy rains for Tuesday, the authorities declared a holiday in the city and adjoining regions, asking people to avoid stepping out of their houses.
Pranjul Bhandari, Chief India Economist, HSBC, speaks about a range of issues ranging from inflation, to how Goods and Services Tax and land acquisition bills can help India hit double digit growth, and her impressions about economic growth in the last one year after Narendra Modi took over as India's Prime Minister.
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