Pakistan ships corn at record pace
Pakistan is experiencing a record year for corn exports, which are projected to reach 1.5 million tons in 2023/24. A bumper crop and lower domestic demand have resulted in a surplus, according to the USDA. Vietnam, Malaysia and Sri Lanka are the main export destinations.
The devaluation of the rupee has contributed to competitive prices. However, USDA notes that exports have begun to slow because most of the low moisture spring crop stocks have already been exported and the remaining grain is not as high quality.
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