India's MMTC postpones deadline in tender to buy corn -trade

MMTC

06/05/2019 10:04

HAMBURG, May 6 (Reuters) - Indian state-run trading company
MMTC  MMTC.NS  has postponed the deadline for offers in an
international tender to import yellow corn (maize) to May 15
from May 8, European traders said on Monday.  urn:newsml:reuters.com:*:nL5N21Y155
    Offers must now remain valid until May 31 versus May 26
previously.
    The shipment period has also been changed to between June 10
and July 10, they said. Shipment had previously been sought for
May 29 to June 20.
    The volume purchased will be decided by MMTC later depending
on the level of prices received but minimum offers are 20,000
tonnes. Traders believe about 100,000 tonnes could be purchased.
    The tender seeks corn free of genetically modified organisms
(GMOs) from any origins. The MMTC plans to import corn for
Indian consumers such as starch makers and poultry farmers. 
    Below-normal monsoon rains and insect damage have slashed
India's corn output and raised prices.  urn:newsml:reuters.com:*:nL3N20A3H5

 (Reporting by Michael Hogan; editing by Jason Neely)
 ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54;
Reuters Messaging:
michael.hogan.thomsonreuters.com@reuters.net))