A late and weaker than usual monsoon in India has delayed corn sowing and may cut yields by as much as half, to 3 tons per hectare. Although not an important global corn supplier, India has grown to become an increasingly key supplier in the Southeast Asian market, and the reduced corn output will likely reduce exports. Cost of production in India has risen as well with the price of seeds, labor, and fertilizers increasing by approximately 20% prodding farmers to switch to soybeans which are less expensive to grow and have a shorter growing season. For the current crop year ending September 30th India’s corn production is expected to increase by 8% to 24.19 million tons. For the following crop next year however, output is forecast to fall by 15% and exports are expected to decline in excess of 15% to 2.5 million tons. To read further:
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