January 2, 2008

Indian companies export 6,000 tonnes corn to Vietnam at US$267/tonne

Two Indian companies have entered into contracts to export about 6,000  tonnes of corn to Vietnam in the last few days, a senior industry official said on Tuesday (December 31, 2007).

The corn has been exported at US$267 per tonnes, cost and freight basis.

"The deliveries will take place this month or in February," the official who didn't wish to be named said.

He also declined to divulge the name of the companies involved in the deal.

South-East Asian nations are emerging as major buyers of Indian corn because of bumper local production and low freight costs in comparison to the US.

Recently, buyers in Malaysia bought 6,000 tonnes of Indian corn at US$264 per tonne.

"To date, Indian exporters have sold around 75,000 tonnes of corn to Vietnam," the industry official added.