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Indias corn exports rise thanks to higher performance
With the improved monsoon rain, crucial for India’s agri sector, the corn output projected to increase, which eventually leads to higher export and prevention of both global and domestic prices rise.
India’s Directorate of Maize Research has forecasted that corn export
will likely to be higher by 8% this fiscal year to 2.7 million metric
tons because of an expected bigger crop.
Last year, the corn export from India declined owing to poor production
driven by drought. The country exported around 2.5 million tons in
2009-10, according to industry data. An official estimate is yet to be
released.
The country’s corn production fell 15.7% to 16.64 million tons in the
last crop year that ended June 30, after the worst drought in around
four decades shrank summer-sown crops.
Meanwhile, industrial experts are on the opinion that India’s
contribution to the global market would likely to ease the global corn
prices.
Source: Commodity Online
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