​Indian corn prices remain high despite record harvests

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India is to see a record corn harvest in MY 2021/2022 of 32.5mt this year but prices are to remain on the high side.

The feed industry is experiencing a bullish market as recovery in domestic and export demand push up prices. The Russia-Ukraine war has also opened up the market for more Indian corn exports, projected at 3.2mt in 2021/2022. The war has also led to an overall surge in commodities. The USDA projects prices to remain on an upward trajectory for 2021/2022.

High prices discouraging exports

The higher prices will reflect negatively on exports for MY 2022/2023. Exports for next year have been lowered to 2.4mt as a result.

Indian corn is mainly making its way to neighboring countries such as Bangladesh, Vietnam, Nepal, and other South Asia destinations.  For now, “The Ukrainian crisis has spurred a global surge in corn prices, making Indian corn now highly competitive in the region.”

For a related story, please see:
High feed costs, meat prices and declining consumption
Karnataka farmers demand action against corn hoarding
Indian corn gets a boost from Black Sea supply disruptions

Editor, Asian Feed Magazine and FeedWatch, Colombo, Sri Lanka. The Russian-Ukraine war has intense implications on the world grain markets and Zahrah has her fingers on the pulse with articles like, ‘Wheat, corn markets shudder over Russia-Ukraine conflict’.