Country News
China: Corn prices are falling precipitously, down $12.30/MT to an average $288.10/MT last week as the government unloads surplus stocks and cornstarch inventories continue to climb. (WPI)
India: A tender to import 240,000 tons of corn was cancelled due to higher expected domestic production and, notably, “questions about the availability of non-genetically modified corn as demanded.” (Reuters)
Turkey: The government increased the local value added tax on imported DDGS and corn gluten feed from 8 percent to 18 percent in order to protect the domestic soybean/sunseed crushers.
Zimbabwe: The World Food Program is seeking $220 million to supply corn and other staples to Zimbabweans suffering from the drought. (Bloomberg)