Agri Buzz: Forecast Of Normal Monsoon Augurs Well For Kharif Output Says RBI

8 Jun 2022 , 12:18 PM

The RBI has stated in latest monetary policy update that the restrictions on wheat exports should improve the domestic supplies but the shortfall in the rabi production due to the heat wave could be an offsetting risk. The forecast of a normal south-west monsoon augurs well for the kharif agricultural production and the food price outlook. Edible oil prices remain under pressure on adverse global supply conditions, notwithstanding some recent correction due to the lifting of export ban by a major supplier. Consequent to the recent reduction in excise duties, domestic retail prices of petroleum products have moderated. International crude oil prices, however, remain elevated, with risks of further pass-through to domestic pump prices. Powered by Commodity Insights