Agri Picks Report August 02, 2024: Geojit Financial Services

commodities

Geojit Financial Services's report on Daily Agri Picks

Rainfall over India is likely to be above normal in the second half of the Jun-Sep monsoon season as La Nina conditions are expected to set in by the end of August, the India Meteorological Department said. Rainfall during August and September is likely to be above normal at over 106% of the long-period average, the IMD said in its latest long-range forecast for the monsoon season. The long-period average of rainfall over the country as a whole during Aug-September, based on historical data from 1971 to 2020, is about 422.8 mm. Weak La Nina conditions are expected to set in by the end of August and these conditions are likely to last over the country till the end of this year, the IMD said. La Nina will set in after a year of El Nino conditions over India. La Nina brings good rainfall to India, while El Nino is associated with a hotter and drier climate over the country. The weather bureau expects rainfall to be normal at 94-106% of the long-period average in August. The long -period average for rainfall over the country during August is 254.9 mm. The Met department also said rainfall during September is likely to be more intense than in August because of La Nina. The weather bureau expects rainfall over most of the country to be normal to above normal in Aug-Sep. Below normal rainfall is expected over many parts of northeast and adjoining areas of eastern India, Saurashtra and Kutch, and some pockets of central and peninsular India, it said. Similarly, for August, most parts of India are expected to experience normal rains, while below normal precipitation is likely over many areas in southern and central regions. Some pockets of eastern and northwestern India are also expected to experience lower than usual rainfall during this month. Additionally, above normal maximum temperatures are likely over most parts of the country in August, while normal to below normal maximum temperatures are expected over some areas of the Gangetic plains, central India and the southeast coast of the country, according to IMD. Further, the bureau said the average mean temperature over the country during July was the second highest since 1901, while the average minimum temperature was the highest since the same period. El Nino, which turned neutral last month, was mainly responsible for higher temperatures throughout India.In July, India received 9% above normal rainfall at 305.8 mm, mainly because of higher-than-usual precipitation in central and southern peninsular India. In central India, rainfall was 33% above normal at 427.2 mm in July, while it was nearly 37% higher at 279.2 mm in south India, according to IMD. Northwestern parts of the country saw below normal rains at 179.7 mm, over 14% below normal. Rainfall in east and northeast India was more than 23% lower than usual at 325.3 mm last month.

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