February 18, 2011

India's 2011 corn export likely to triple

India's corn export may triple to 2.5 million tonnes in 2010-11, saved by estimates of a record domestic output and scope of higher global prices, an international body US Grains Council (USGC) said Thursday (Feb 17).

The country had shipped about 0.7 million tonnes of corn, also known as corn, last year, the USGC said quoting a traders' report.

According to the government's second advance estimate, corn output is expected to touch a record 20.03 million tones in 2010-11, higher than the demand of 17-18 million tonnes. "Traders expect corn exports to be 2.5 million tonnes in the 2010-11 marketing year (October-September) because of a record crop output and firm global price trend," USGC India representative Amit Sachdev said.