March 16, 2011

India has no plan to stop corn exports

India has no intention of banning corn exports, Farm Minister Sharad Pawar said Tuesday (Mar 15).

There was market speculation that the government might ban exports of corn to boost supplies in the local market for the poultry industry and starch manufacturers.

"Robust domestic demand and good prices leave little scope for exports, so there is no immediate need for a ban," Pawar said.

India expects a record output of 20.03 million tonnes corn in the 2010-11 crop year, up from 16.72 million tonnes in the previous year, because of higher plantings and plentiful rain.

Separately, Pawar said that the government should allow wheat exports as the country is heading for a bumper production and stocks at state granaries are high.

India is projected to harvest 81 million-82 million tonnes of wheat in the crop year ending June, up from 80.8 million tonnes in the previous year, he said.