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1. Despite record wheat production this year, there is speculation over its shortage. The Food Corporation of India’s wheat procurement for buffer stocks is only marginally higher than last year. With food inflation causing concern, the Centre has imposed stock limit till March 31, 2025, to rein in prices, says Prabhudatta Mishra.
2. Over the past two weeks, kharif sowing has gathered momentum. Initial trends show that farmers are, probably, opting to go in for crops such as pulses and maize hoping to reap the benefits of prices ruling high owing to supply shortages. Experts, however, say a clear picture will emerge by July-end.
3. With the south-west monsoon running into a rough patch, India’s 150 major reservoirs are under stress. The water level in these reservoirs dropped to 20 per cent the capacity last week.
4. There is a 50% chance that 2024 could turn out to be the warmest year on record, says the National Ocean and Atmospheric Administration of the US. Things aren’t looking pretty on the weather front as the emergence of El Nino, which brings copious rains to Asia - particularly India - is getting delayed.
5. A study by the Forum of Enterprises for Equitable Development (FEED), in collaboration with the Development Intelligence Unit (DIU), on “Impact of Climate Change on Marginal Farmers” shows that 60% of small farmers suffer crop losses due to extreme weather. The study shows that 40.9% of farmers have experienced droughts, while 32.6% faced excessive rains, leading to significant crop losses.
6. Vishwanath Kulkarni has something interesting on what is brewing on the coffee front. European buyers are buying more coffee as the European Union braces for the European Union Deforestation Regulation (EUDR). The deadline for compliance is December 30, 2024, and ahead of it there is lot of frontloading of coffee, say exporters.
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