Need for import of maize due to increasing demand for ethanol

04-Sep-2024 06:07 PM

New Delhi. The need for maize for ethanol production is increasing rapidly, which may require its import in the coming time.

The price of maize in the domestic market has started jumping to new record levels, due to which on one hand its export has fallen drastically, while on the other hand the need for import from abroad is increasing. Its import is expected to reach 10 lakh tonnes.

The poultry industry is demanding the government to allow duty-free import of maize. Demand for import of GM maize has also started rising, while there is a possibility of increase in import of non-GM maize from countries like Myanmar and Ukraine.

It is worth noting that India had once become the largest maize exporting country in Asia, but now due to huge increase in demand and consumption and domestic production not increasing accordingly, the need for its import is being felt.

According to trade analysts, if the Government of India had allowed duty-free import, then the price of maize in the global market could improve somewhat, which has currently come down to the lowest level in about four years.

The price of maize in India has jumped to a level much higher than the global market price. The poultry industry wants the central government to abolish the customs duty on maize imports and the ban on import of GM maize.

20 to 40 lakh tons of maize is exported from India every year, but in the current year it is likely to decline to around 4.50 lakh tons.

On the other hand, the import of maize in the country is expected to increase to 10 lakh tons.

Although there has been a good increase in the sowing area of ​​​​kharif maize and the arrival of its new goods will also start from next month, but this production may not be sufficient to meet the domestic demand and need.