India on the threshold of a Corn revolution

NCDEX said that higher availability of maize will further boost the fast-growing poultry and livestock sector that has emerged as an important contributor of food items for Indian households.

 

MUMBAI (Commodity Online): 

India is on the threshold of a maize (corn) revolution and it has become the third most important cereal crop after wheat and rice. The increase in production of maize is result of changing consumer demand, higher farm productivity, correct price signals to farmers. 

Highlights of India's growth in maize

Total area sown under maize has grown 30% during the last decadeWinter maize roduction has risen by 222% in last decade, acreage 121%Maize yields have jumped by 53% during this period.

From a maize-deficit nation, India has emerged as a leading exporter of the commodity in South Asian markets.

The facts were revealed at the India Maize Summit jointly organised by National Commodity and Derivatives Exchange (NCDEX) and Federation of Indian Chambers of Commerce and Industry (FICCI).

NCDEX said that higher availability of maize will further boost the fast-growing poultry and livestock sector that has emerged as an important contributor of food items for Indian households.

Addressing the conference, that included 200 stakeholders from across the country, Mr. Samir Shah, MD & CEO, NCDEX said, “Price signals from NCDEX maize futures have ensured that benefits from increased consumer and industrial demand are translated into fair returns for small farmers. The NCDEX maize price has also become a benchmark for South Asian markets, which are now an important export destination for Indian maize. But much more remains to be done to bring out the full potential of this food and feed crop. We look forward to closely working with the maize, starch and poultry industries to create a platform for collaboration and integration. Our MoU with CLFMA (Compound Feed Manufacturers Association) is one important step in this direction.”