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The week in charts: Onion farmers’ distress, Asean summit, Delhi’s cloud seeding
MINT· 2025-11-01 01:30
Onion Market - Farmers in Maharashtra and Karnataka are experiencing significant losses due to a steep decline in onion prices, attributed to oversupply and crop damage from heavy rainfall [2][3] - Onion prices have plunged 54–56% year-on-year, with wholesale prices now around ₹20–21 per kg, the lowest since mid-2023 [3] Asean Trade Pact - India is seeking an early review of its free trade pact with ASEAN, citing limited benefits despite trade more than doubling to $123.1 billion in 2024-25 from $56.2 billion in 2010-11 [6][7] - The trade gains have been skewed towards ASEAN members, with their share in India's imports rising from 8.3% to 11.7%, while India's exports to ASEAN have decreased from 10.2% to 8.9% since the pact's inception [7] Air Quality in Delhi - Delhi's air quality index (AQI) reached 373, marking the highest level in the past 10 days, pushing air quality back into the "very poor" category [11] - The Delhi government conducted its first cloud-seeding operations in over five decades as part of its air quality management strategy [12] Industrial Output - Industrial output grew 4% year-on-year in September, the slowest pace in three months, with mining contracting by 0.4% [20] - Manufacturing expanded by 4.8%, while electricity generation slowed to 3.1%, indicating uneven momentum across sectors despite festive-season demand [23] Nvidia's Market Valuation - Nvidia became the first company to reach a $5 trillion market valuation, surpassing Microsoft and Apple [24] - The surge in Nvidia's market cap followed CEO Jensen Huang's announcement of expected $500 billion in AI chip orders and plans for seven new supercomputers for the US government [27]