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A number of factors have converged over the last 18 months to send global agricultural commodity prices to near-record levels. Russia’s invasion of Ukraine – and the potential loss of Ukrainian exports – was the latest development to push commodity prices higher.
The Indian Meteorological Department (IMD) forecasts a near normal Southwest Monsoon for 2019 suggesting that June to September rainfall is likely to be 96 percent of the Long Period Average (LPA).