India's MMTC again postpones tender to buy corn - trade (updated)

MMTC

11/06/2019 08:47

(Adds detail from paragraph four)
    HAMBURG, June 11 (Reuters) - Indian state-run trading
company MMTC  MMTC.NS  has for the fifth time postponed the
deadline for offer submissions in an international tender to
import yellow corn, this time to June 19, European traders said
on Tuesday.
    The deadline for offers was originally May 8 and had been
postponed to May 15, to May 22, to June 6, and to June 12.
    The tender seeks corn (maize) free of genetically-modified
organisms (GMOs).
    The volume purchased will be decided by MMTC depending on
the level of prices received. Traders are being asked to submit
offers of at least 20,000 tonnes.
    The MMTC is now asking for offers of corn for shipment
between July 20 and Aug. 20. Previous shipment period was July
15 and Aug. 15.
    "I think Asian importers including India are hoping for a
further fall in corn prices from the peaks at the end of May,"
one European trader said.
    Chicago corn futures rose to a near two-year high on May 28
as forecasts of heavy rain across key U.S. growing regions
threatened further delays to plantings.  GRA/ 
    India was previously a major corn exporter to southeast Asia
but it has become an importer due to falling output and rising
demand from poultry producers and corn starch manufacturers,
which has raised domestic prices.  urn:newsml:reuters.com:*:nL3N22L40J
    Recent Indian corn import shipments have been reported from
Ukraine, said to be the first in about three years.

 (Reporting by Michael Hogan, editing by David Evans)
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