Monsoons Arrival Good News For Crop Protection Industry
9 June 2015 The monsoons have arrived and that could be good news for distributors of crop protection products. Along with the rains come insects and an increased possibility for disease making growers more amenable to purchasing pesticides.
The rains began last week in the southwest and have moved into northeast India this week. The long-term forecast has left many wondering if the rains will be enough to avoid drought. The Indian Meteorological Department forecast monsoons to be at 88% of the normal average. Some regions are expected to receive only 85%. The monsoons began last week in the southwest and have being moving across the country bringing much needed rain and in some cases flooding.
Cities and districts around the country are working to mitigate the limited rainfall any way they can. A report in India’s Business Standard said “Prime Minister Narendra Modi held a high-level meeting on Monday to review India’s irrigation systems in view of a forecast of deficient monsoon in 2015.”
According to a report in the Times of India, the Maharashtra government is planning to introduce cloud-seeding to create an artificial rain in the drought hit zones of Vidarbha and Marathwada. “It has set aside a budget of $1.57 million (Rs 10 crores) for pilot projects in this area, said state revenue minister Eknath Khadse,” according to the report. Other regional governments are considering crop insurance, the Times of India reports.
The drought concern also affected the country’s stock market. The Sansex dropped 351 points last week, in part, after the Indian Meteorological Department drought report was released.
Read the latest IMD’s latest forecast here.
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