A farmer walks in his dried up field near Yaragatti village in Belagavi district. File | Photo Credit: The Hindu Brussels Last year was the planet’s hottest on record by a substantial margin and likely the world’s warmest in the last 1,00,000 years, the European Union’s Copernicus Climate Change Service (C3S) said on January 9. … Read more
Sugar mills have called for allowing import of raw sugar during the upcoming crushing season to help mills in states where adverse weather conditions are expected to hit sugarcane production. “India could import a certain quantity of raw sugar to supplement cane crushing in the areas where climatic impact is likely to reduce crushable sugarcane,” … Read more
H.J.M Seneviratne cuts yellow paddy stems that dried following drought, at his paddy field in Anamaduwa, Sri Lanka. | Photo Credit: Reuters H.J.M Seneviratne (63) slices through yellowed paddy stems dried out by a drought that has destroyed more than 95% of his crop and is threatening crisis-hit Sri Lanka’s summer rice harvest. The island’s … Read more
India’s growth prospects remain intact in FY24 on the back of improved monsoon showers, solid fiscal performance, continued expansion in manufacturing and services sectors and vigorous capital expenditure spending by both public and private sectors, the finance ministry said on Thursday. “Indian economy’s domestic dynamics continue to be strong. Real GDP growth data for the … Read more
Lower rice sowing due to deficient rains, coupled with increasing global prices, may end up pushing up inflation, economists said. Rice accounts for 4.4% of the Consumer Price Index basket, whereas the main staple, arhar or tur, which has also witnessed a reduction in acreage, has a 0.8% weight in retail inflation. Their combined share … Read more
Area under paddy is down nearly 35 per cent to 10.77 lakh hectares so far in the ongoing kharif (summer-sown) season . The rice acreage stood at 16.46 lakh hectares in the corresponding period of last year, according to agriculture ministry data. Area under coverage for pulses is higher at 6.54 lakh hectares so far … Read more
The El Nino weather event may adversely impact rainfall during the upcoming winter season – thereby affecting the key rabi crop of wheat – and make the next summer season the hottest ever, one of the top weather forecasters in the country has said. DS Pai, a senior scientist of IMD, said the impact of … Read more
Though few fear a moderate rain deficit to impact inflation, an intense El Nino that severely disrupts the monsoon could push inflation up by 15-20 basis points by boosting food prices. Food items have 39.06% weight in India‘s Consumer Price Index (CPI), the price gauge for the Reserve Bank of India. A deep deficient monsoon … Read more
India has decided to approve wheat and broken rice exports to few selected countries following their requests to allow the shipments of the grains, the government said in two separate notifications issued late on Tuesday. The South Asian country banned exports of wheat and broken rice in 2022 to lower local prices. But following requests, … Read more
The world economy is on a precarious footing, says the World Bank as it forecasts a deceleration in global growth from 3.1% in 2022 to 2.1% in 2023. Its latest edition of the Global Economic Prospects report, published earlier this month, however, projects India’s growth for FY2024 at 6.3%, a healthy number against a bleak … Read more