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Showing posts from May 25, 2016

India’s Monsoon Seen Strongest in 22 Years as La Nina Looms

India is set for the highest monsoon rainfall since 1994 as the odds of a La Nina increase, boosting planting of rice, corn and oilseed crops.


The precipitation during the four-month rainy season starting in June is seen at 109 percent of the average of about 89 centimeters (35 inches), more than the 105 percent predicted in April, Skymet Weather Services Pvt., a New Delhi-based private forecaster, said on its website on Tuesday. The forecast has a margin of error of 4 percent. That’s more than the 106 percent estimated by the state-run India Meteorological Department.




The prediction for above normal downpour for the first time since 2013 is seen boosting prospects of agricultural production and ease an acute drinking water shortage caused by back-to-back droughts. 



Prime Minister Narendra Modi’s government is counting on a normal monsoon to sustain economic growth and contain food costs after the lowest rainfall since 2009 hurt rice, corn, sugarcane, and oilseed crops last year.

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Dust storm destroys mango crop worth over Rs 30 cr in Meerut

Potential damage = $4,710,000.00 usd...

















TOI
Meerut
Tue,24 May 2016














Summary: According to officials, the damaged crop in Meerut district alone is worth Rs 30 crore. Munna Singh, a mango cultivator at Abdullahpur, said, "My mango crop suffered at least 40% damage from just a 20-minute dust storm on Monday. 


The mango crop suffered a damage after the dust storm on Monday evening. In Meerut district, mango groves are spread over 17,000 hectares of land. Monday's dust storm damaged 30.6 metric tons of mangoes in Meerut district.



Just a few days ahead of the start of the mango season here, the region's cultivators suffered massive losses after several districts were hit by a dust storm, which lasted all of 20 minutes, on Monday. 


According to officials, the damaged crop in Meerut district alone is worth Rs 30 crore."The mango crop suffered a damage after the dust storm on Monday evening. We surveyed the loss on Tuesday and we found that approximately, over 15% of the mango crop …

UPDATES FROM THE 2016 (SIC) STRATEGIC INVESTMENT CONFERENCE

Get the latest updates live from the sold-out 2016 Strategic Investment Conference with John Mauldin, Richard W. Fisher, David Rosenberg, James Grant, Niall Ferguson, George Friedman, Pippa Malmgren, Charles Gave, Neil Howe, and many more.










http://liveblog.mauldineconomics.com/








George thinks that although we are not heading toward World War III, we are not in the same model that we were in before 2008. "5 billion of 7 billion people are living in a zone of intense crisis," says George.





































He thinks real unemployment is closer to 20 million than 8 million. 

David says that if 5% fully reflected employment, it would have been reflected in the price of labor (i.e. wage growth). 


David addresses negative rates: "Negative rates are a tax on bank reserves... when you tax banks, you are taxing growth."









http://liveblog.mauldineconomics.com/




Panama Canal redraws world trade once again

When the new locks slide open to receive traffic for the first time in late June, the reverberations will be felt from Asian gas terminals to Great Plains farms and ports from Miami to Long Beach to Santiago.




BY BLOOMBERG |WEDNESDAY, MAY 25, 2016



A century after transforming global markets, the Panama Canal is about to redraw world trade once again.


Nine years of construction work, at a cost of more than $5 billion, have equipped the canal with a third set of locks and deeper navigation channels, crucial improvements that will double the isthmus’s capacity for carrying cargo between the Atlantic and Pacific oceans.


When the new locks slide open to receive traffic for the first time in late June, the reverberations will be felt from Asian gas terminals to Great Plains farms and ports from Miami to Long Beach to Santiago.


The debut coincides, fortuitously, with a surge in U.S. natural-gas production that has shale outfits suddenly seeking out new export markets. The deeper channels will be a…