El Nino Threatens Modi Inflation Hopes as Monsoon Stymied
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The El Nino strengthening across the Pacific Ocean is threatening to curb India’s monsoon rainfall and hamper Prime Minister Narendra Modi’s chances of capping food costs.
The Indian Institute of Tropical Meteorology predicts a “large-scale reduction” during the first half of July after a wetter-than-normal June that caused Mumbai’s worst floods in 10 years. The El Nino that forecasters are likening to a record event almost two decades ago may disrupt sowing and stunt growth of rice, cotton and soybeans.