총 616페이지
103페이지 본문시작
6/8/2021
* Indian corn quoted below $300/T versus LatAm corn at $330/T
* Vietnam, Malaysia, Sri Lanka, Bangladesh key buyers
* Higher soybean, pulses prices may curb Indian corn output
By Naveen Thukral and Rajendra Jadhav
SINGAPORE/MUMBAI, June 9 (Reuters) - India has stepped up corn exports as a rally
in global prices to their highest since 2013 has made shipments from the South Asian
country competitive, easing concerns about rising food inflation in Southeast Asia.
Indian exporters have signed deals to sell around 400,000 tonnes of corn for shipment in
June to July to animal feed producers in Vietnam, Malaysia, Sri Lanka and Bangladesh,
according to two Singapore-based feed grain traders.
Cheaper corn supplies from India would keep the cost of animal feed lower for
consumers of meat and chicken in Asia, who are among the most vulnerable to high
food prices.
Benchmark Chicago corn futures have more than doubled since August on rising Chinese
demand and declining production in key exporter Brazil. In early May, prices hit their
highest since March 2013 at over $7 a bushel.
"India has been active with cargoes being shipped to Vietnam and Malaysia," said one of
the sources, a Singapore-based trader at an international grains trading company.
"Bangladesh and Sri Lanka have also been taking Indian corn. Now, there is interest
from South Korea as well."
Indian corn is being quoted at $295-$300 a tonne, including cost and freight (C&F), for
sale to Southeast Asia as compared with $330 a tonne, C&F, for South American corn,
the two trading sources said.
AgRural, a Brazilian agribusiness consultancy, last week cut its forecast for the country's
second corn crop because of severe drought, adding that yields are expected to fall to a
five-year low this season.
- 103 -
* Indian corn quoted below $300/T versus LatAm corn at $330/T
* Vietnam, Malaysia, Sri Lanka, Bangladesh key buyers
* Higher soybean, pulses prices may curb Indian corn output
By Naveen Thukral and Rajendra Jadhav
SINGAPORE/MUMBAI, June 9 (Reuters) - India has stepped up corn exports as a rally
in global prices to their highest since 2013 has made shipments from the South Asian
country competitive, easing concerns about rising food inflation in Southeast Asia.
Indian exporters have signed deals to sell around 400,000 tonnes of corn for shipment in
June to July to animal feed producers in Vietnam, Malaysia, Sri Lanka and Bangladesh,
according to two Singapore-based feed grain traders.
Cheaper corn supplies from India would keep the cost of animal feed lower for
consumers of meat and chicken in Asia, who are among the most vulnerable to high
food prices.
Benchmark Chicago corn futures have more than doubled since August on rising Chinese
demand and declining production in key exporter Brazil. In early May, prices hit their
highest since March 2013 at over $7 a bushel.
"India has been active with cargoes being shipped to Vietnam and Malaysia," said one of
the sources, a Singapore-based trader at an international grains trading company.
"Bangladesh and Sri Lanka have also been taking Indian corn. Now, there is interest
from South Korea as well."
Indian corn is being quoted at $295-$300 a tonne, including cost and freight (C&F), for
sale to Southeast Asia as compared with $330 a tonne, C&F, for South American corn,
the two trading sources said.
AgRural, a Brazilian agribusiness consultancy, last week cut its forecast for the country's
second corn crop because of severe drought, adding that yields are expected to fall to a
five-year low this season.
- 103 -
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