2023/24 MY amazed by the boom of Ukrainian corn export to India. It started since the beginning of 2024 year and during January-August 2024 reached over 400 KMT. In such a way, Ukraine became one the main suppliers of corn to India. Previous such boom was seen in 2019 year. But further purchases of Ukrainian corn by India are under question. Dora Bernardini, broker with Atria Brokers, told “At the end of August, sellers indicated rather high ideas for Ukrainian origin corn to India – at about 240 USD/MT CIF India. But this is totally not workable for buyers that were indicating ideas at about 230 USD/MT CIF. Buyers say that Kharif corn crop in India comes to market in September-October, that is why demand for Ukrainian corn could restart in December-January”. 


Strong India’s demand for imported corn is connected with plan to boost the corn usage for ethanol in 2024 to record high – 1.1 MMT vs only 32 KMT in 2023 and no use in previous years, as per FAS USDA.

In order to achieve the set volume for corn, India Made few steps. Firstly, on 26 June 2024, it allowed imports of corn (500 KMT) under the tariff-rate quota (TRQ) with import duty lowered to 15%, compared to usually 60% duty, plus 5% IGST, and a 10% social welfare surcharge.

Secondly, in June 2024, India allowed duty-free import of corn from Myanmar/Burma. This measure was taken after India started purchasing Myanmar’s corn in March 2024.


As well, Agricensus wrote in February 2024, that Ukrainian corn had more chances on Indian market, as India eased import requirements for Ukrainian grains (including corn) in November 2023. India added Ukraine to a list of countries that do not use methyl bromide fumigants on grains.

What are the prospects of Indian and other corn markets in 2024/25 MY? Ask all your questions to TOP experts within the Corn Panel discussion at Global Grain Geneva 2024 on 12-14 November 2024. The hottest corn panel ever to be moderated by ASAP Agri. Catch the early bird fee until 13 September, 2024. Link for registration is here: https://www.fastmarkets.com/events/global-grain-geneva/tickets/