March 18, 2008

India's corn exports likely to triple this crop year

India's corn exports are expected to top 1.5 million tonnes in the crop year ending June 30, triple the 500,000 tonnes the previous year, the Economic Times reported Tuesday (March 18, 2008).

Lower freight rates compared with other exporting countries and estimated record production are expected to boost exports from the country, said the newspaper.

India's corn production in 2007-08 is expected to total 16.78 million tonnes, up from 15.10 million tonnes in the previous year.

India has contracted to export around 1 million tonnes of corn this crop year, out of which around 800,000 tonnes have already been shipped as of last week, the report said.