Global demand for India’s corn, wheat and rice surges

Indian food grains are witnessing an increase in their global demand due to depreciating rupee and competitive pricing. The foodgrains that have seen a surge in their demand are corn, wheat and rice.  As per reports, the production of soyabean has declined in its major growing areas leading to a rise in its prices and those of soy based feeds. This has forced the global live stock industry to change focus to corn (maize) based feeds. 

India’s corn is quoted at $260 a tonne for Rabi harvest and $250 for Kharif, which is much lower than US prices. This is attracting the global buyers and presently, enquiries have come in from Iran and Egypt. Similar is the case with rice and wheat, which are being sold at prices lesser than global prices.

Production of rice, wheat and corn is expected to be around 103.41 million tonnes, 90 million tonnes and 21 million tonnes.