India’s monsoon, which represents more than 70 percent of its annual rainfall, landed two days early, potentially boosting production of rice and sugar and helping cool the highest inflation among Asia's major economies.
The rains reached southern Kerala and Tamil Nadu and are likely to advance to the rest of Kerala and the state of Karnataka in the next two to three days.
Abundant rains may boost rice, corn, sugar, cotton and oilseed harvests, helping growth and curbing inflation in a country where farming represents a fifth of the economy. Bumper crops may prompt the government to ease export curbs, capping global food costs.
Some 235 million farmers depend on the rains to boost incomes and fund purchases of tractors, cars and televisions.
A favorable monsoon may boost the nation’s share market as motorcycle, car, television and food companies seek to increase their sales in rural areas.
The monsoon typically sets over the southern Kerala state by the first week of June, before blanketing the entire nation by July 15.
Abundant rains may boost rice, corn, sugar, cotton and oilseed harvests, helping growth and curbing inflation in a country where farming represents a fifth of the economy. Bumper crops may prompt the government to ease export curbs, capping global food costs.
Some 235 million farmers depend on the rains to boost incomes and fund purchases of tractors, cars and televisions.
A favorable monsoon may boost the nation’s share market as motorcycle, car, television and food companies seek to increase their sales in rural areas.
The monsoon typically sets over the southern Kerala state by the first week of June, before blanketing the entire nation by July 15.
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