India issues a license to export 48000 tons of corn

OA show ('918 '); [India issues a license to export 48000 tons of corn] Mumbai, April 11 (Reuters) - India has licensed 10 private traders to export 48000 tons of corn by the end of May, government officials said on Wednesday Last week, India released 200000 tons of corn for export in 2000 / 01 State agencies have been allowed to export 100000 tons of corn in a fixed quota, with the rest being split up by other exporters "Of the 100000 tons quota for private traders, we have issued 48000 tons of export licenses This is distributed on a first come, first served basis " A senior official of the agricultural and processed food export development agency of India (APEDA) told Reuters The Indian government authorizes APEDA to accept applications from private companies and distribute export licenses The final date of shipment / export is 31 May 2001 Most traders seek permission to export corn to Bangladesh and Sri Lanka, the official said "There are also permits for small quantities of corn exported to the United Arab Emirates." "Exporters quote between $110 and $125 per ton FOB," he said Traders say Indian exporters find it difficult to export corn to countries like South Korea and Malaysia because of their high corn prices and freight costs The price of corn in India's domestic market is between $105 and $107 per ton, while the FOB price of corn in Argentina is about $85 per ton "Indian exporters will target neighboring countries, such as Bangladesh and Sri Lanka, because of freight advantages." An official from an international trading company said "It would be advantageous for Bangladesh and Sri Lanka to purchase corn from India, because in terms of small tonnage ships, the freight from Argentina or the United States is about $35 per ton "Said another trader Traders said Sri Lanka and Bangladesh could import 50000 tons of corn from India and other countries this year India usually produces and consumes 10 million tons of corn a year Last year India imported small quantities of corn to meet the needs of the poultry industry China feed industry information network 9tr (author:)