MEXICO’S CORN PRODUCTION ON RISE
Coming off a severe drought and sensing greater demand for white corn, optimistic producers in Mexico are expected to plant more area to corn, giving impetus to a harvest forecast of 25 million tonnes for 2024-25, according to FAS. The FAS is forecasting harvested area for 2024-25 at 6.4 million hectares, up 5% year-on-year. Corn imports in 2024-25 are pegged at 22 million tonnes, 5% higher than the previous year to meet increasing demand for starch and animal feed production as corn prices remain comparatively low year-on-year. Mexico increasingly has relied on corn imports, primarily yellow, to cover the growing domestic demand of the livestock and starch industries, set to reach an estimated 21 million tonnes, which is over 45% of total consumption in 2023-24.
At 2.4 million tonnes, wheat production for 2024-25 is forecast 10% higher than the previous year. With increased demand being met by growing production, wheat imports are forecast unchanged from the previous year at 5.4 million tonnes. Mexico’s sorghum production for 2024-25 is projected to be 4.6 million tonnes, 8% higher than the estimate for 2023-24. Sorghum imports are forecast to remain stable at 200,000 tonnes as increased production covers higher demand.
(Link: WorldGrain)
INDIA EXTENDS BAN ON ONION EXPORTS INDEFINITELY AHEAD OF GENERAL ELECTION
Traders had anticipated it would be lifted as local prices have more than halved since the export restrictions were implemented and this season’s crop is yielding fresh supplies. However, the government issued an order late on Friday that the ban will remain in place until further notice. Onion prices in some wholesale markets in Maharashtra, the biggest onion-producing state, have fallen to 1,200 rupees ($14) per 100 kg from 4,500 rupees in December. Countries such as Bangladesh, Malaysia, Nepal and the United Arab Emirates rely on imports from India to fill domestic gaps in onion supply and many of those nations have struggled with high prices since the ban.
(Link: Reuters)
