India Prepares Buffer Stocks for Monsoon, Oil Risks as Fertiliser Costs Add Pressure
Updated
Updated · India Today · Jun 15
India Prepares Buffer Stocks for Monsoon, Oil Risks as Fertiliser Costs Add Pressure
3 articles · Updated · India Today · Jun 15
Summary
India has readied buffer stocks for a weaker monsoon and possible food-supply disruption, Finance Minister Nirmala Sitharaman said, warning that crude oil, foreign exchange and fertiliser volatility are clouding the economic outlook.
Oil remains a central risk for the world's third-largest crude importer because procurement costs are being pushed up not just by prices but also by higher shipping, insurance and war-risk cover.
Raw-material imports are also under severe strain from disrupted commodity markets and logistics chains, raising manufacturing costs and adding price pressure across industries.
Fertiliser swings could lift the government's subsidy burden and hit agriculture just as below-normal rainfall risks increase uncertainty for the coming crop season.