India, one of the world's biggest agricultural producers, experienced its h...
MUMBAI - India, one of the world’s biggest agricultural producers, experienced its heaviest monsoon rains in 25 years this year.
The monsoon is also critical for the wider economy. Farming makes up about 15% of the $2.5 trillion economy and employs more than half of the country’s 1.3 billion people. Sugarcane in many districts of Maharashtra and Karnataka states - the second- and third-biggest producers in India, respectively - were flooded in the first week of August. This is expected to result in India’s lowest sugar output in three years, industry officials say.
Vegetables such as tomatoes and onions went rotten due to heavy rainfall in Maharashtra, Karnataka and Madhya Pradesh.Given the damage to the soybean crop, the world’s biggest importer of edible oils could be forced to increase imports of palm oil, soyoil and sunflower oil in 2019/20 marketing year starting from Nov. 1.
The dry spell helped the spread of the fall armyworm pest, which damaged corn and will potentially push New Delhi to import the grain to contain pressure on local prices.
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