Big Increase in Indian Maize Export

There has been a huge increase in the demand for maize in the international market. Due to this, Indian maize export has also increased. According to the Ministry of Agriculture, the export of maize has increased by 1.5 percent in 2022-23.

The price of maize for export is $0,28 to $0,30

Currently, the price of maize has increased in the international market. Due to the increase in demand, the price has increased. At present, maize is getting a price of $0,24 to 0,28 per kg in the market committees. Whereas the prices of maize for export are between $0,28 to $0,30. At present, India is facing lower transport costs for exports to Southeast Asia and East Asia. Therefore, these countries have increased maize exports.

A decline in maize production in ‘this’ country 

Production in some of the world’s leading maize-producing countries has declined this year. Due to the decline in production, there is a shortage of maize in the international market. As a result, there is a good increase in the price, and the farmers are benefiting from this.

This year, maize production in the important countries of America, Argentina, Russia and Ukraine has decreased. The production of corn in America has decreased by 411 million tons this year. Currently, the demand for maize has increased in the international market. Due to this, there has been a good increase in the rate. Rates of soy meal and other meals are currently slightly higher. It is affecting the price of maize. At present, the condition of maize crops in rabi in India is also good. But exports are also increasing. At present, maize prices are higher than the guaranteed price due to good demand for exports.

Russia-Ukraine War Disrupts Maize Supply Chain

This year, global maize production has decreased significantly. Maize production is forecast to be lower by around five percent. It has been estimated that global maize production will settle at 1151.3 million tonnes. Last season’s production was 1216 million tonnes. Meanwhile, the Russia-Ukraine war has disrupted the maize supply chain. The effect on the rate is visible.