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Market move▼ Bearish for Indian equities
Kitchen Budgets Hit: Onion Prices Nearly Double Amid Maharashtra Drought
The brief
- Onion prices nearly doubled amid drought in Maharashtra
- Maharashtra accounts for around 40% of India's onion output
- Higher onion prices may lift food inflation, affecting Indian consumer-facing companies and the RBI's rate outlook
- Maharashtra sets aside Rs 6,728 crore under employment guarantee scheme amid drought: Minister
- Rabi 2026 target set at 178 MT as Centre steps up preparedness for El Nino, crop losses
- Maharashtra drought: 265 talukas affected. Could the rest of India feel it?
- Equitas SFB may raise FY27 loan growth guidance above 25%; sees limited impact from Maharashtra drought
- UN agency warns funding crisis could leave 8.3 million people without aid
India’s weak monsoon and drought impact
India’s June–September 2026 monsoon ended with rainfall about 12.6% below normal, the weakest since 2015; 15 states had below-normal rain and 313 of 741 districts were deficient or largely deficient. Maharashtra declared 265 of its 358 talukas drought-affected, while poor rains weighed on fertiliser sales and raised concerns about crops and rural demand.
Wednesday, 30 September
- Kitchen Budgets Hit: Onion Prices Nearly Double Amid Maharashtra Drought