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India's MMTC tenders to buy corn, volume undecided

9 July 2019, at 10:04am

Indian state-run trading company MMTC has issued an international tender to buy and import yellow corn (maize), European traders said on Monday.

The volume purchased will be decided by MMTC later depending on the level of prices received but minimum offers are 24,000 tonnes to 25,000 tonnes.

The tender closes on Tuesday, 9th July. Offers must remain valid up to 16th July.

The tender seeks corn free of genetically-modified organisms (GMOs) from any origins for shipment between 20th July and 20th August, traders said.

The MMTC repeatedly delayed a previous tender for corn issued in April after global corn prices rose sharply from May largely on fears poor weather would damage US crops.

The MMTC plans to import corn at lower taxes for Indian consumers such as starch makers and poultry farmers.

Below-normal rains and insect damage have slashed India’s corn output and raised prices.

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