Market News / Story
India Faces Super El Niño Headwind As Drought Risks Rise
Binance News ·
Binance News reports: According to CNBC, India is facing a new growth headwind from the super El Niño weather phenomenon as the country contends with weak monsoon rainfall, low reservoir levels and rising food inflation risks. Local media reported that India received its lowest rainfall from June to September in more than a decade, while the India Meteorological Department said it was the fourth lowest since 2001 and the 13th driest since 1901. Nomura said reservoirs were 28% short of full…