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India's maize exports in 2010-11 to touch 2.4 mn tonne

posted May 18, 2011, 3:24 AM by NAVYUG Info
India's maize export is expected to rise by 33% to 2.4 million tonne in 2010-11 marketing year ending October, mainly on the back of record domestic production.

India had exported 1.8 million tonne (MT) of maize in the 2009-10 marketing year (November-October), according to a US Grains Council (USGC) report.

"India's maize exports are expected to touch 2.4 million tonne in the 2010-11 as India is expecting a bumper output of maize in this season," India-based representative of the USGC, Amit Sachdev, said. 
Sachdev said that at the beginning of the current marketing year (MY) in November, 2010 the prices of corn in America were higher which helped India to export more. 

In India, maize prices are generally down during the October-December period due to fresh arrivals from the kharif harvest. During November last year, maize prices in India were ruling at around Rs 9,237 per tonne, while the prices in US were around $231 (about Rs 10,164). 

According to the third estimate of the Agriculture Ministry, maize production in the country is expected to touch 20.23 MT in 2010-11 season out of which 15.87 MT is in the kharif season.

"India's maize export destinations are Middle East and the whole of South East Asia," Sachdev said. Presently, maize prices in India were stable in the week ended May 13 at Rs 10,761 per tonne, but the prices were higher than last year by 16%.