Vegetable arrivals at mandis, especially in Maharashtra, have declined by more than 50 per cent since the beginning of the month.
The wider NSE Nifty too fell by 20.15 points or 0.19 per cent to end at 10,749.75.
The government on Thursday said based on the current monsoon situation, India's foodgrains output may rise by 29 per cent to 115 million tonnes.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
Last month, the agriculture ministry had projected 10 per cent fall in kharif foodgrains production at 117.18 million tonnes in view of poor rains and drought in more than 360 taluks in Karnataka, Maharashtra, Rajasthan and Gujarat.
The rains have so far been four per cent below normal.
Centre releases Rs1,712cr to TN, Rs 1,234cr to Karnataka for drought.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
This could be the reason why Prime Minister Narendra Modi mentioned tomato, onion, and potato as his government's 'TOP' priority, in an election rally on February 5 in poll-bound Karnataka.
The Centre for Monitoring Indian Economy on Tuesday said industrial production growth is likely to decline in the second half of the current fiscal, while the first advanced estimate of kharif crop showed a 10 per cent drop in food production.\n\n\n\n
NCDEX benchmark index up 10% over a month, as expectations on sowing gather pace
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
The cost of production of onion is around 800-900 per quintal, while prices are hovering around 500 per quintal across major wholesale markets.
Shortage of seeds, threat of El Nino expected to restrict sowing.
As the kharif sowing season exceeds two months, no crop has managed to reach the normal area of cultivation (average of the past five years), except for sugarcane, cotton and jute.
As of now, monsoon rains are deficient by 21 per cent across India, affecting sowing of kharif crops. Karnataka, Maharashtra, Gujarat, Haryana, Punjab and West Rajasthan have been the worst-hit regions this year.
Prices of essential commodities, including foodgrains, have surged 8-10 per cent in just three days, because of deficient rains and on concerns that the farm output this kharif season would be hit badly.
Because of late monsoon, arrival of kharif (summer) onion crops would be delayed by a month in key growing areas of Maharashtra, Rajasthan and Madhya Pradesh, threatening to push up prices in the late September and October.
As the southwest monsoon continues to narrow its overall deficit, the India Meteorological Department (IMD) on Wednesday exuded confidence that the dreaded El Nino weather pattern was unlikely to affect monsoon rains this year.
On one hand Karnataka Agriculture Minister Umesh Katti, Water Resources Minister Basavaraj Bommai and Rural Development Minister Jagadish Shettar are plotting the fall of Chief Minister Sadananda Gowda, while on the other hand the state continues to reel under drought with 123 taluks declared as drought hit.
Benchmark policy rate unchanged at 6.75 per cent.
The rains in August have also led to speculation that if the trend continues, rains in September, the terminal month of the four-month monsoon season, could be better, thus aiding production of paddy and other kharif crops.
El Nino refers to abnormal warming of surface ocean waters in the Pacific that disrupts weather pattern causing drought and floods in many regions of the world.
Though monsoon risks to overall economic growth could be limited due to small share of agriculture output in GDP, the impact may be significant because it affects the poor through inflation and income, RBI noted in its 'First Quarter Review of Monetary Policy 2012-13'.
The regulator has doubled the deposit money that a trader is required to keep with exchanges for trading in turmeric following unusual price movement.
Skymet said the monsoon this year could be 100 per cent of the long period average (LPA) with a model error of plus and minus 5 per cent.
The government is committed to taking all initiatives needed for the development of the agriculture sector and farmers' welfare, he said.
The southwest monsoon has picked up pace, and is now on the verge of covering almost the entire country.
Total area sown till last Friday was 16.56 mn hectares, up 23%.
Consumer goods companies remain hopeful of good rainfall this year despite the prediction of a possible drought-causing El Nino weather phenomenon in August-September.
Home Minister Rajnath Singh said that the decision could cost the government roughly Rs 15,000 crore.
The decision, taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi, comes less than a year before next general election.
If you are bullish on the consumption theme, consider specialised mutual funds that focus on this theme. Remember that such sectoral mutual funds should not make up more than 5% to 10% of your equity portfolio.
The monsoon rains have been 31 per cent below average up to July 2, Pawar told reporters in New Delhi.
FCI's suspension of tur under MSP is likely to force farmers to undergo distress sales of the commodity.
Allegations abound that traders milked the scheme to artificially keep prices down, while a significant amount of growers didn't even register owing to multiple difficulties in registration and were deprived of the payout.
The monsoon this year in India was likely to be 'below normal' at 95% of LPA: Skymet
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