Monsoon rains below the average level, continuing for the fourth week in a row and the insignificant amount of rainfall during the week in the central and western parts of the country, caused concern in India about the production of major crops.

Monsoon rains are crucial for the country's agricultural production. About 55% of arable land in India feeds on rains, and agriculture accounts for about 15% of Asia’s third largest economy, estimated at $ 2.5 trillion.

If the rainy situation does not improve over the next two to three weeks, then India may face a crisis that will undermine crops and rural demand. Everything will be affected by the crisis: from farmers to companies selling everything they need.

“Sowing has already been postponed for three weeks. If the monsoon does not revive in two or three weeks, then the whole season can be considered missing, ”said Harish Galipelli, head of the commodity and currency department at Inditrade Derivatives & Commodities in Mumbai.

Since the beginning of the season, June 1, the monsoon has brought 36% less rain than usual. As a result, the sowing rate of summer crops such as rice, soy and corn has slowed.

According to preliminary data from the Ministry of Agriculture of India, as of June 21, farmers planted crops on 9.1 million hectares, which is 12.5% ​​less than the same period last year.