# India's corn exports plunge as local prices rally on strong demand

> India's corn exports have nearly stopped since December because local prices rallied on strong poultry and ethanol demand. Exporters say Indian shipments are now more expensive than those from rivals. The rally followed a hike in the procurement price for corn-based ethanol.

- Date: 2024-01-18 · published 2024-01-18T12:00:00.000Z
- Category: trade · region India · magnitude low
- Page: https://feedsoft.ai/events/32179-india-s-corn-exports-plunge-as-local-prices-rally-on-strong-demand
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lost Indian export volume removes a modest supply source from world corn markets, which is mildly supportive, but the effect is small against a global surplus. Domestic Indian demand is absorbing supply that would otherwise be exported.

## Read by commodity

- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-11-06 | [U.S. fuel ethanol exports rise on strong international demand and low U.S. prices -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/27408-u-s-fuel-ethanol-exports-rise-on-strong-international-demand-and-low-u-s-prices.md) | +1.3% | -1.9% |
| CORN | 2026-02-20 | [Corn and Barley Prices Climb on Export Surge and Demand - Agrolatam](https://feedsoft.ai/events/20660-corn-and-barley-prices-climb-on-export-surge-and-demand-agrolatam.md) | +1.4% | +8.9% |
| CORN | 2020-10-03 | [Strong export demand supports prices for grains - High Plains Journal](https://feedsoft.ai/events/11637-strong-export-demand-supports-prices-for-grains-high-plains-journal.md) | +0.6% | +5.8% |
| CORN | 2020-10-27 | [Corn futures set 14-month high on strong export demand](https://feedsoft.ai/events/5717-corn-futures-set-14-month-high-on-strong-export-demand.md) | -3.7% | +6.9% |
| CORN | 2020-10-23 | [Corn Futures Extend Rally to 14-Month High on U.S. Export Demand](https://feedsoft.ai/events/5712-corn-futures-extend-rally-to-14-month-high-on-u-s-export-demand.md) | +0.8% | +10.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/indias-corn-exports-plunge-local-prices-rally-strong-demand-2024-01-18/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.