Consumer goods companies remain hopeful of good rainfall this year
despite the prediction of a possible drought-causing El Niño weather
phenomenon in August-September.
India was last hit by an El Niño, caused when there is a shift in ocean temperatures and atmospheric conditions in the Pacific Ocean, in 2009. The last two years were good in terms of rains for India, with the kharif crop output rising 10 per cent and nearly four per cent, respectively.
“Weather reports suggest the rainfall this year will be
good. We remain hopeful it will,” says Adi Godrej, chairman, Godrej
Group. “Our assessment is that there will be no negative impact as a
result of weak rains. In our view, the monsoons will be good,” says
Naresh Bhansali, chief executive officer, finance, strategy &
business development, Emami Ltd.
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India was last hit by an El Niño, caused when there is a shift in ocean temperatures and atmospheric conditions in the Pacific Ocean, in 2009. The last two years were good in terms of rains for India, with the kharif crop output rising 10 per cent and nearly four per cent, respectively.
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