Russia Adjusts Corn Prices on the Domestic Market of India

Corn imports and good crop in India caused lower prices in December 2019. After Ukrainian, Myanmarian and Russian corn entered the Indian market, its domestic prices fell by 15%, the agency Grain On-Line said citing AgriBiz.

 Moreover, private importers bought another 450-500 thousand tons of corn for delivery from February to March.

The forecast for corn harvest in India has also been raised up to 29 million tons, by 6.5% from last season. Thus, Indian domestic corn prices in February may fall by another 10%.