The 2024 Southwest monsoon season officially came to an end on 30th Sep-24, with the country recording rainfall 8% higher than LPA i.e., in the ‘Above normal’ category, the best monsoon performance in last four years.
Download ReportQuantEco Research || India 2024 Monsoon Update: Making a mark
After a slow and uneven start in Jun-24, rainfall picked up pace in Jul-24 and upped its momentum over the months of Aug-24 and Sep-24, while undergoing an improvement in spatial distribution along with. Overall, monsoon performance was in line with IMD’s prediction of 2024 rainfall at 106% of LPA. The agency’s spatial forecast too was accurate: ‘below-normal’ monsoon rainfall for Northeast India; ‘normal rainfall’ for the Northwest; and ‘above-normal’ rainfall for Central and Southern peninsular regions. We continue to expect food prices to gradually moderate over the course of the remainder FY25. Having said, Oct-24 onwards food prices should begin to ease as Kharif harvest becomes available coupled with winter seasonality remaining supportive.