Country News
South Africa: Drought has driven the price of yellow corn to its highest level in 19 years, to $218 (2,957 rand) per metric ton. White corn, at $238 (3,229 rand) per metric ton has risen in price six days in a row. The outlook remains dry. (Bloomberg)
France: Ecology Minister Segolene Royal and Agriculture Minister Stephane Le Foll announced that France plans to opt out of the authority from Brussels to grow nine different corn GMO events. (Wall Street Journal)
Vietnam: Prime Minister Nguyen Tan Dung announced a two-step plan to boost the use of E5 and E10 ethanol blended petrol. First will be an education program to inform consumers of ethanol’s benefits, and second will be a Ministry of Finance study on creating a preferential tax program to reduce the cost of E5 and E10. (Biofuels Digest)
India: The production of summer-sown corn will fall more than 15 percent this year as a result of back-to-back drought years. Larger production in India’s northern states is not enough to offset the losses in southern states. (Reuters)