MC Daily Monsoon Tracker: Rainfall deficit narrows to single digits

Data released Friday showed Kharif sowing was up 33 percent as of June 28 from the previous year. Pulses sowing was up 181 percent, whereas oilseeds witnessed an over 150 percent rise in acreage. Rice acreage was largely unchanged at 2.2 million hectares.

In monsoon parlance, a normal is calculated using a long-period average of 30 years for a specific region.

A deficit is computed in percentage terms if the rainfall is below the long-period average.

The reservoir level situation worsened in the week until June 27. Reservoir levels were down 16.7 percent from normal as of June 27, compared with 9 percent in the previous week.

Bihar and Andhra Pradesh have an over 50 percent deficit in reservoir levels.

A recent report pointed out that climate change was taking a toll on farmers, with 80 percent of marginal farmers saying they had suffered an extreme weather event in the past five years.

Food inflation was sticky above 8 percent in May and will likely stay elevated in the coming months.

Higher food inflation means that rural inflation has outstripped urban inflation for nearly a year and is likely to do so in the coming months.

The government is hoping for a revival of its agricultural sector, which recorded 1.4 percent growth in FY24 compared to 4.7 percent in the previous year, also lower than the 3.7 percent long-term average.