Recent unseasonal rains and an El Nino warning from weather scientists are further compounding challenges and uncertainties for agrochemical manufacturers amid ongoing climate-related issues.
During the December quarter, local manufacturers faced the impact of high channel inventory, capping their earnings, and this trend is expected to persist in the current quarter. Recent unseasonal rainfall has likely damaged the winter wheat crop in certain areas, and warnings about El Nino, which causes droughts in India, are adding to uncertainties, leading to subdued sentiment and cautious investors in the first half of FY24.
“Although the weather department had issued an advisory to farmers on the unseasonal rains, preliminary reports suggest that crops have been destroyed across the country, especially the standing rabi crops," said analysts at JM Financial Institutional Securities Ltd.
Bu hikaye Mint Mumbai dergisinin March 28, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin March 28, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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