India: Monsoon Update - Optimism High Yet Monsoon Below Expectation

Rains have caused flooding in five states, although pan-India rainfall is three percent below the 10-year average for the southwest monsoon (June 1 through Aug. 28). As of Sept. 1, reservoirs were at 67 percent capacity whereas they were at 59 percent capacity on the same date a year ago. Planted acreage is higher than last year due to improved soil and sub-soil moisture conditions. A switch to food crop planting could trigger imports of other commodities for further processing.

India: Monsoon Update - Optimism High Yet Monsoon Below Expectation