RBI Guv Assures Minimal Impact on Wheat Prices Amid Heatwave Predictions, Urges Vigilance on Vegetable Costs
RBI Guv Assures Minimal Impact on Wheat Prices Amid Heatwave Predictions, Urges Vigilance on Vegetable Costs

The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, reassured on Friday that the anticipated heatwave in the upcoming months is not likely to disrupt wheat prices. However, he cautioned about potential impacts on vegetable prices.

This statement follows predictions from the Indian Meteorological Department (IMD) indicating above-normal temperatures and the likelihood of heatwaves during April to June.

During a post-monetary policy press conference, Governor Das remarked, "The IMD has forecasted high temperatures, expected to be above normal during April, May, and June. Hence, we must monitor its effect on food crops."

Governor Das highlighted that with wheat harvesting mostly completed across the nation, the heatwave is less likely to affect wheat prices significantly. However, he stressed the need to monitor vegetable prices due to the prevailing temperatures.

"Regarding wheat crops, our data suggests that harvesting is nearly complete. In central India, it is entirely finished, with a few exceptions. Thus, wheat availability should not be heavily impacted, unlike two years ago when heatwaves were severe," Das explained.

He added, "So, wheat is not a major concern. However, we must keep an eye on vegetable prices and any other potential impacts resulting from the heatwave."

The IMD's forecast indicates that many parts of the country could experience higher-than-normal maximum temperatures from April to June, with 10-20 days of heatwaves anticipated in various regions.

Earlier in the week, Union Health Minister Mansukh Mandaviya chaired a meeting to assess public health readiness in managing heat-related illnesses. States were advised to ensure health facilities are equipped with essential medicines, intravenous fluids, ice packs, oral rehydration solution (ORS), drinking water, and conduct information, education, and communication (IEC) activities for the public.

States were also instructed to communicate guidelines for summer months, outlining do's and don'ts for both the general population and vulnerable groups.

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