September 15, 2009
India improved monsoon rains ease farm output concerns
Improved monsoon rains in India have eased concerns about a drop in farm output and a possible rise in food prices, federal Finance Minister Pranab Mukherjee said Monday (Sept 14).
"The availability of rice would be around 14 million tonnes as of October 1," Mukherjee said at an event.
The wheat surplus would be about 17.7 million tonnes as of April 1, 2010, he added.
India's monsoon rains were 20-percent below normal between June 1 and Sept. 9, but the deficit is expected to narrow because of late rains to around 15 percent by the end of this month, according to meteorological department officials.
