2023 was world's hottest year on record, EU scientists confirm

2023 was world's hottest year on record, EU scientists confirm

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

Millers seek raw sugar imports to make up for likely cane shortage

Millers seek raw sugar imports to make up for likely cane shortage

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

Drought dents Sri Lanka’s economic hopes, farmers’ livelihood

Drought dents Sri Lanka’s economic hopes, farmers’ livelihood

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 intact in FY24; sequential increase in food inflation in June: Finance ministry report

India’s growth prospects intact in FY24; sequential increase in food inflation in June: Finance ministry report

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

Economists concerned over lower rice acreage pushing up inflation

Economists concerned over lower rice acreage pushing up inflation

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 down 35 per cent so far this kharif season; pulses, coarse cereals acreage up

Area under paddy down 35 per cent so far this kharif season; pulses, coarse cereals acreage up

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

El Nino likely to hit rabi crops: Top weather forecasters

El Nino likely to hit rabi crops: Top weather forecasters

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

Intense El Nino may push inflation up by 15-20 bps: Experts

Intense El Nino may push inflation up by 15-20 bps: Experts

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 approves wheat, broken rice exports requests from 4 countries

India approves wheat, broken rice exports requests from 4 countries

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

Despite headwinds, Indian economy could grow at 6.5% this fiscal year unless…

Despite headwinds, Indian economy could grow at 6.5% this fiscal year unless…

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