Maize (corn) exports from India rebounded sharply in 2021-22 to the top of the $1 billion mark after a gap of seven years. Shipments had touched a nine year low of $142 million in 2019-20 before presenting a sharp rebound over the last two years on rising demand for the coarse corn from South and SouthEast Asian countries such as Bangladesh, Vietnam, and Malaysia.
Lower supplies from South American producers such as Argentina and Brazil over the last two years worked in favor of Indian exporters, resulting in higher demand from consuming countries in SouthEast Asia such as Vietnam and Malaysia among others. According to Agricultural and Processed Food Products Export Development Authority (APEDA) data, maize shipments for 2021-22 stood at $1.02 billion up by 61% from $634 million the last fiscal.
India’s maize exports have raised from 3.7 lakh tonnes (lt) in 2019-20 to 36.90 lt in 2021-22. In the current financial year, though shipments were up by 21% during April at 2.51 lt over the same period last year, overall Indian exports may slow down on slow demand and a rebound in supplies from South America.
“The Indian maize turned competitive during 2020-21 after the spread of Covid, which led to demand damage in the domestic market. At the same time, supplies reduce from South America with bad weather hurting the production resulting in higher demand from Vietnam and Malaysia among other countries,” said Indrajit Paul, Senior Manager Commodity Research at Origo E-Mandi.
