Sundaytimes Desk ::
Industries contracted 150,000 tons of Brazilian corn. Summer of India corn production could fall more than 15% this year. Factories rations in Bangladesh if returned to Brazil in search of corn, carrying three Panamax ships to October, due to lack of rains that reduces the production in neighboring India, traders said.
The hired industries 150,000 tons of Brazilian corn, between $ 195 and $ 200 per ton, including cost and freight, and there may be room for one more load.
One of the ships, the San Marino Trader, is heading to the port of Chittagong, according to vessel tracking data.
“Usually they buy maize from India, which is carried by the dry border,” said a trader who was aware of the offerings of the Brazilian corn. “This year there is a problem with the Indian crop, so buyers are taking Brazilian corn.”
Maize production of Indian summer may fall another 15% this year due to dry weather.
Corn producers in the Southern Telangana, Karnataka and Andhra Pradesh have not been able to cultivate some areas, and the production of the three countries could fall to 3.2 million to 4.2 million tonnes from 6.5 million tons a year ago.
A trader said buyers of Bangladesh are on the market for over a load of about 50 tons.