March 12, 2008

India assures no immediate plan to ban corn exports

India's federal government has no immediate plan to ban corn exports, Junior Commerce and Industry Minister Jairam Ramesh said Wednesday (March 12, 2008).

"Domestic prices (of corn) are under control and exports that are a small fraction of production are unlikely to raise the domestic prices significantly," Ramesh said in answer to a lawmaker's question in Parliament.

The local production of corn in the current crop year would be sufficient to meet the local and export demand, the minister said.

He did not give details of the estimated crop output.