09/09/2024 | News release | Distributed by Public on 09/09/2024 08:59
While most U.S. farmers are focused on the rapidly approaching harvest season, there were several noteworthy international developments last week worth monitoring.
India looks set to be a global importer of corn in the years ahead, as the government's push to produce more corn-based ethanol has turned Asia's biggest corn exporter into a net importer for the first time in decades.
On average, India exports 2 million to 4 million metric tons of corn annually, but officials estimate 2024 exports falling to just 450,000 metric tons. On the high end, this would be a reduction of nearly 90%. Officials also see imports in 2024 reaching a record 1 million metric tons, with most of this corn sourced from Myanmar and Ukraine due to their use of non-GMO seed. Cotton is the only genetically modified crop...