April 24, 2008

Malaysia looks to India for corn shipments

Malaysia is looking to buy 200,000 tonnes of corn, mostly from India for shipment in July, a Kuala Lumpur-based trading executive said Thursday (April 24, 2008).

"Indian corn today is the cheapest in the world; if it is available, we will buy it," said the executive, who didn't want to be identified.

He said buyers in Malaysia have purchased around 1 million tonnes of corn for shipment between October 2007 and June 2008.

Malaysia is buying Indian corn at around US$260 per tonne for shipment in containers and at US$270-$275/ton, cost and freight, for bulk shipments, he said.