Ethanol push turns India into corn importer, shaking up global mkt

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Ethanol push turns India into corn importer, shaking up global mkt - Business Standard

Quick Summary:

That would mean an increase in corn-based ethanol production to 3 billion litres, requiring nearly 8 million tons of corn, said the official, declining to be named as he was not authorised to speak with media.

Crushed by soaring feed costs as local corn prices rise far above global benchmarks, India's poultry producers want the government to remove duties on imports and lift its ban on genetically modified (GM) corn.

India usually exports 2 million to 4 million metric tons of corn, but in 2024, exports are expected to drop to 450,000 tons while the country is set to import a record 1 million tons, mainly from Myanmar and Ukraine, which grow non-GM corn, traders estimate.