India Weighs Export Curb on Rice and Wheat Amid Monsoon Deficit

A weak monsoon is putting pressure on India's Kharif and Rabi crop production. The country has received only 15% of its average rainfall, with a deficit that could be the lowest since 2009 if it persists until September.

The water levels in major reservoirs have decreased by 20% compared to last year, leaving just 131 billion cubic meters (BCM) of water. Regional levels are even graver, with South India's reservoirs at 48% capacity and North India's at 36%.

Rabi crops in Punjab, Haryana, and Rajasthan rely on dams in Himachal Pradesh and Punjab for irrigation. Decreasing water and soil moisture could impact Rabi sowing.