India’s corn prices will remain high this year
Indian corn prices are expected to remain high despite near-record production in 2024/2025. USDA expects production to reach 37.5 million tons despite Indian government forecasts of 37 million tons.
An above-normal monsoon, contributing to timely planting and higher yields than last year, convinced the USDA to raise the forecast. Despite this and lower export demand, Indian corn prices have remained stable since January 2024. Despite a new harvest in March, average spot corn prices in May 2022 were 15% higher than last year.
Strong demand from the poultry and starch industries will keep domestic stocks low and prices high.
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