Loading…
India's 91 main reservoirs held 103.43 billion cubic metres on September 28, 13% below the 10-year average and 66% of capacity versus 74% a year earlier. The monsoon was below normal, with 17% of the country receiving insufficient rain.
Rabi crops including wheat, pulses and mustard are at risk and may be sown on a smaller area.
Lower reservoir levels reduce irrigation for the winter wheat crop and raise the risk of smaller output and higher domestic prices. Speculative buying could amplify the move.
business-standard.comPratik ParijaOct 4, 2017After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
