Indian corn too expensive to export
Indian corn exports are declining, losing competitiveness even against neighboring South Asian countries. Lower production is driving up prices, says a USDA report.
It estimates India’s corn production in 2023/24 at 34.3 million tons, but even after the October harvest, domestic prices remain high. “This is indicative of a lower crop compared to last year’s record harvest,” the USDA said.
Spot prices in the range of $231-269 per ton will remain steady into 2023/24, with strong domestic demand from the feed sector and ethanol producers.
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