IMD confirms El Nino onset, cuts 2026 monsoon to 90% LPA; food retail braces for input cost shock
IMD's downgraded Jul-Sep 2026 forecast threatens Kharif rice, pulses and oilseeds across 197 vulnerable districts, with up to 3.4 mt rice loss in play. ICRA flags a 0.4% CPI food inflation upside, squeezing grocery and FMCG margins while rural demand wobbles ahead of festive restocking.
IMD confirms El Nino onset, downgrades monsoon forecast to 90% of LPA, threatening Kharif rice, pulses, oilseeds. ICRA flags 0.4% CPI food inflation upside, raising input cost and rural demand risks for Indian grocery, FMCG and food retail.