Page 32 - Think Grain Think Feed - May25

www.benisonmedia.com INDUSTRY NEWS UP Government Sets Ambitious

Think Grain Think Feed - Volume 11 | Issue 7 | May 2025

Corn Prices Poised to Rise Amid

Tight Global Supplies
Target to Double Maize
Corn prices, currently near a three-week low of about USD
4.70 per bushel on the Chicago Board of Trade (CBOT), are
The Uttar Pradesh government, led by Chief Minister Yogi
expected to rise throughout 2024 due to tightening global Production by 2027
supplies. This outlook persists despite market pressures from Adityanath, has announced a bold plan to double maize
US-China trade tensions and increased US corn plantings. production by 2027. Agriculture Minister Surya Pratap Shahi,
According to BMI, part of Fitch Solutions, global corn speaking at a recent Kharif seminar, detailed the goal of
inventories are forecast to drop 6% below opening levels in increasing production from 14.67 lakh metric tonnes
2025, largely due to reduced Chinese imports. The Food and (2021–22) to 27.30 lakh metric tonnes within two years.
Agriculture Organisation (FAO) also reports declining global To achieve this, the government aims to expand maize
ending stocks. For 2024–25, global production is estimated cultivation areas and boost yields per hectare through
at 1,215 million tonnes (mt), slightly down from last year, advanced farming techniques and farmer awareness
while consumption is projected to rise to 1,242 mt — campaigns. Efforts also encourage the production of other
creating a supply-demand gap and pushing stocks to a key crops like tur and mustard.
multi-year low of 287.65 mt.
Known as the “Queen of Cereals” for its nutritional value and
BMI has revised its 2025 corn price forecast upward to USD versatility, maize can be grown year-round on various soil
4.60 per bushel, reflecting a 2.5% increase since early 2024.
types, requiring mainly proper drainage. Its uses span
Conversely, the World Bank projects a 2% price decline in
ethanol production, animal and poultry feed,
2025–26 due to lower crude oil prices and reduced ethanol
pharmaceuticals, paper, and food industries. Common
demand.
varieties include corn, baby corn, popcorn, and flour.
Attention now shifts to US spring planting, where acreage
To protect farmers' interests, maize is covered under the
expansion is expected. ING warns that despite better EU and
Minimum Support Price (MSP) scheme, ensuring fair returns.
Ukrainian outputs in 2025–26, lower US yields may keep
While Tamil Nadu leads the country with a productivity of
global stocks near 290 mt.
59.39 quintals per hectare, the national average is 26
While global corn production may peak in 2025–26,
quintals. Uttar Pradesh lags at 21.63 quintals, signaling
matching consumption gains could prevent stock buildup.
significant potential for improvement.
Key risks affecting corn prices include ethanol policies in the
With sustained support, the state aims to make maize a
US and Brazil, weather fluctuations, and ongoing trade
major driver of agricultural growth.
tensions.

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