Despite drop in price over last year, Indian maize remains uncompetitive in export market
The maize crop is expected to increase on a year ago due to more area. However, this may not turn into higher realisations in terms of foreign exchange. Despite a drop in prices on a year ago, maize remained uncompetitive in the exports market as prices in the global market were lower, said an official in the Agricultural and Processed Food Products Export Development Authority (APEDA).
While the country had exported three million tonnes during March-December, one million are projected to be exported in the rest of the financial year. A year ago’s exports were five million; a drop of up to 15 per cent is seen by the APEDA.
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Traders expected a higher decrease as they go by the crop season, September to October.
More-competitive prices of Argentina and Brazil’s exports to southeast Asia (the major consumer) have left Indian maize behind.
According to experts, there was a price differential of five per cent to seven per cent for importers buying from rivals.
But as the winter crop is yet to arrive, the scenario may change.
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