1. India Meteorological Department (IMD) on Friday said that most of the global models forecast the emergence of El Niño during India’s monsoon season and may last at least until January 2026. Latest assessments indicate that beneath the surface of the equatorial eastern Pacific, cradle of El Niño, a powerful event may be taking shape, one that could surpass the intensity of the 2023 event and rival the formidable episode of 2015.
2. India’s agri export promotion body APEDA has received communication from the Environment Ministry and the Indian Council of Agricultural Research (ICAR) that genetically modified (GM) rice is not allowed for cultivation, making the country free from GMO risk while exporting the cereal. This will now help it tackle China, which rejected rice shipments for alleged GMO presence in them.
3. The Indian government procured 23.25 million tonnes (mt) of wheat for its buffer stocks as of April 30, 2026, down from 25.63 mt a year ago. This was mainly due to purchases in Madhya Pradesh being low.
4. Investment demand for gold in India overtook jewellery consumption for the first time ever in the March quarter of 2026, as consumers deferred their jewellery purchases due to volatile prices.
5. Investments in physically-backed gold exchange-traded funds (ETFs) turned negative last week, after rising for two consecutive weeks, data from the World Gold Council (WGC) showed.
Published on May 3, 2026