July 18, 2019 / 7:18 AM / in a month

MMTC tenders to buy corn, volume undecided

A workers empties a sack of corn kernels at the Agricultural Produce Market Committee (APMC) market yard on the outskirts of Ahmedabad, August 31, 2016. REUTERS/Amit Dave/File Photo

HAMBURG (Reuters) - Indian state-run trading company MMTC has issued another international tender to buy and import yellow corn (maize), European traders said on Thursday.

The volume purchased will be decided by MMTC later depending on the level of prices received but minimum offers are 24,000 tonnes to 25,000 tonnes.

The tender closes on July 30 and offers must remain valid until Aug. 12.

A previous tender from the MMTC to buy corn had closed on July 11.

The result of the July 11 was unknown but traders said they did not believe a purchase was made.

The new tender again seeks yellow corn free of genetically-modified organisms from any origins.

Offers were sought for shipment periods between Aug. 1-31, Sept. 1-30 and Oct. 1-31. Corn already loaded and afloat on ships cannot be offered in the tender.

The MMTC plans to import corn at lower taxes for Indian consumers such as starch makers and poultry farmers.

Below-normal rains and insect damage have slashed India’s corn output and raised prices.

Reporting by Michael Hogan, editing by Jane Merriman

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