Possibility of import of about 10 lakh tonnes of maize from Myanmar at southern ports
25-Oct-2024 11:37 AM
New Delhi. The supply situation of maize is likely to become complex in view of the increasing demand in the domestic sector, especially in the ethanol manufacturing industry. In view of this, about 10 lakh tonnes of maize is expected to be imported from Myanmar in the country.
This non-GM maize can be imported at the southern ports of India - Tuticorin, Chennai and Visakhapatnam. It is worth mentioning that two government agencies - NAFED and NCCF had signed an agreement with ethanol manufacturers in February,
under which distillers were assured of supply of maize at the minimum support price so that it could help reduce dependence on sugar in the production of ethanol and ensure availability of sufficient raw material to grain-based distillers.
But this step of the government could not be effectively successful because the price of maize increased under domestic influence and poultry feed, animal feed and starch manufacturers had to struggle hard to get the stock of this important coarse grain in adequate quantity.
According to trade analysts, a large quantity of maize has been imported from Myanmar in recent months. Although there was a good increase in the area of maize cultivation in the Kharif season compared to last year,
the crop was also damaged due to heavy monsoon rains and severe floods in many areas. The price of maize has gone up considerably due to the increasing demand from ethanol manufacturers.
It is understood that maize can be imported to India from Myanmar at a price level between $ 275-287 per tonne, which includes other expenses including shipment charges.
On October 22, the average price of maize in the major markets (mandis) of the country was Rs 24,600 (292.60 dollars) per tonne, which was 12 percent higher than last year.
It is worth noting that maize imported from Myanmar is duty free, so Indian importers prefer to order goods from there. Generally, an import duty of 60 percent is applicable on maize in India and only non-GM category imports are allowed.