India's monsoon rains hit five-year low due to El Nino
El Nino is a warming of Pacific waters that is typically accompanied by drier conditions over the Indian subcontinent.
India's monsoon rainfall this year was its lowest since 2018 as the El Nino weather pattern made August the driest in more than a century, the state-run weather department said on Saturday. The monsoon, which is vital for India's $3 trillion economy, brings nearly 70 per cent of the rain the country needs to water crops and replenish reservoirs and aquifers. Nearly half of the farmland in the world's most populous nation lacks irrigation, making the monsoon rains even more vital for agricultural production.
The summer rainfall deficit could make staples such as sugar, pulses, rice and vegetables more expensive and lift overall food inflation. Lower production could also prompt India, the world's second-biggest producer of rice, wheat, and sugar, to impose more curbs on exports of these commodities. Rainfall over the country during June to September was 94 per cent of its long period average, the lowest since 2018, the India Meteorological Department (IMD) said in a statement. The IMD had anticipated a rainfall deficit of 4 per cent for the season, assuming limited impact from El Nino.
El Nino is a warming of Pacific waters that is typically accompanied by drier conditions over the Indian subcontinent.
The monsoon was uneven, with June rains 9 per cent below average because of the delay in the arrival of rains, but July rains rebounded to 13 per cent above average. August was the driest on record with a 36 per cent deficit, but again in September rainfall revived and the country received 13 per cent more rainfall than the normal, the IMD said.
The erratic distribution of monsoon rains has led India, the world's largest rice exporter, to limit rice shipments, impose a 40 per cent duty on onion exports, permit duty-free imports of pulses, and could potentially result in New Delhi banning sugar exports. The country is expected to receive normal rainfall during October to December, the weather department said, adding that temperatures were likely to remain above normal in most of the country during October.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 Gold ETFs With Best Returns in 3 Years: No.1 ETF has converted Rs 7 lakh investment into Rs 10.80 lakh; know how others have fared
Top 7 Index Mutual Funds With Best SIP Returns in 3 Years: No. 1 scheme has turned Rs 22,222 monthly SIP investment into Rs 16,26,892; see others' performance
Power of Compounding: How soon will monthly SIP of Rs 8,000, Rs 12,000, and Rs 15,000 reach Rs 6 crore corpus target?
Rs 55 lakh Home Loan vs Rs 55 lakh SIP investment: Which can be faster route to arrange money for Rs 61 lakh home? Know here
09:11 AM IST