India’s MMTC tenders to buy corn, volume undecided- traders
Indian state-run trading company MMTC has issued an international tender to buy and import yellow corn (maize), European traders said on Tuesday.
The volume purchased will be decided by MMTC later, depending on the level of prices received, but minimum offers are 20,000 tonnes.
The tender closes on May 8. Offers must remain valid until May 26.
The tender seeks corn free of genetically-modified organisms (GMOs) from any origins, for shipment between May 29 and June 20 to a number of Indian ports, they said.
Below-normal monsoon rains and insect damage have slashed India’s corn output and raised prices.
The MMTC plans to import corn at lower import duties for Indian consumers such as starch makers and poultry farmers.
Source: Reuters (Reporting by Michael Hogan, editing by Kirsten Donovan)