India’s erratic monsoon plays havoc with harvests, raising fears of spending slowdown
Consumption typically takes a hit when rainfall is deficient, as weaker harvests mean less cash in farmers’ pockets
This year, after erratic rains through the wet season and the country’s weakest rainfall since 2015, Chutani is keeping a close eye on the till. “The next three months decide our annual profit,” he said, adding he was hopeful for a sales increase.
Across India’s northern grain belt, including in the breadbasket state of Haryana, farmers are bringing their harvest to market – a time of frenzied activity when seasonal windfalls dictate spending on special items from tractors to wedding gold.
But this year, rice yields are down and costs are rising. Farmers say more chemicals and fertilisers are required to limit production losses.
