· A gloomy forecast was given by the IMD in its 1st Forecast for the Monsoon this year. Rainfall in the monsoon season from June to September is expected to be below normal due to an impact of El Nino weather pattern, which can bring on a dry spell in the region, the weather office said on Wednesday
· Overall rains expected at 93% of the 50-year average. The chance of deficient monsoon is 33%, probability of normal monsoon is 28% and the probability of above normal monsoon is negligible.
· This is likely to have a short to medium term Bullish impact on Agri prices.