date:Apr 15, 2014
that the chance of an El Nino weather event developing in 2014 now exceeded 70 percent.
A strong El Nino in India would trigger lower production of summer crops such as rice, sugarcane and oilseeds. In 2009, it had turned monsoon rains patchy, leading to the worst drought in nearly four decades which shot up annual food inflation to over 21 percent.
El-Nino and its consequences on the Indian economy is a tail risk at this juncture, analysts at DBS Group Research wrote in a note last week. But