Maize international market update for the week of November 14, 2024:

22-Nov-2024 08:36 AM

Maize international market update for the week of November 14, 2024:

US Maize Export Deals: The United States has secured export agreements for 1.5 million tonnes (15 lakh tonnes) of maize for the 2024-25 period.

Mexico is the largest buyer with 727,000 tonnes (7.27 lakh tonnes).
Japan has committed to importing 120,000 tonnes (1.2 lakh tonnes).
South Korea has made import deals totaling 136,000 tonnes (1.36 lakh tonnes) from two separate importers.
Global Maize Production: According to the International Grains Council (IGC), global maize production is projected to increase by 1 million tonnes to reach a total of 1.225 billion tonnes (122.5 million tonnes).

Maize Consumption and Stocks:

Maize consumption is expected to rise by 4 million tonnes (40 lakh tonnes).
Global maize stocks are forecast to be 27.5 million tonnes (2750 lakh tonnes) lower than previously estimated.
This update indicates strong demand, particularly from Mexico, Japan, and South Korea, as well as an increase in global maize production, though stocks are expected to be lower than initially forecast.