An Overview of the Corn Market

Speaking at the 9th India Corn Summit organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), the Union Agriculture Secretary emphasised the urgent need for India to increase corn production by about 10 million tonnes over the next five years. This is in response to the rapidly growing demand for ethanol production. As well as increasing consumption in the poultry feed and starch manufacturing industries.

In the 2022-23 season, India produced 34.6 million tonnes of corn, up from 33.7 million tonnes the previous year. Despite this growth, the rising demand indicates a need for further expansion. The Secretary highlighted the importance of reducing losses throughout the corn value chain and stressed the potential for significant improvements and organisation within this sector.

Enhancing Production and Quality

To meet these ambitious production goals, the Agriculture Secretary called for the use of improved, high-quality seeds and proper storage arrangements. Addressing climate change threats is also critical to sustaining and increasing corn production. The concerned authority also highlighted the necessity of a systematic approach to boost both the quantity and quality of corn produced in India.

At the conference, the Agriculture Minister of Maharashtra expressed the state government's readiness to support private companies interested in investing in the corn value chain, particularly in the ethanol production sector. Maharashtra, which has the second-highest number of sugar mills after Uttar Pradesh, is well-positioned to utilise corn on a large scale for ethanol production. This initiative is expected to empower farmers by increasing their income and providing a strong incentive to boost corn production.

Role of Private Companies

The Agriculture Minister urged private companies to establish warehouses in Maharashtra to facilitate easy storage for corn producers. Improved storage facilities will help reduce post-harvest losses and ensure that farmers can store their produce safely until it can be processed or sold. This infrastructure investment by private companies is crucial for enhancing the overall efficiency and profitability of the corn value chain. Given the increasing threat of climate change, it is essential to focus on sustainable farming practices and resilient crop varieties. By adopting climate-smart agricultural techniques and investing in research and development. India can ensure that its corn production is not only increased but also sustainable in the long term.

To meet the growing demand for corn in ethanol production, poultry feed, and starch manufacturing, India must significantly increase its corn production over the next five years. This goal requires a coordinated effort to improve the entire value chain. From the use of high-quality seeds to the establishment of proper storage facilities. Collaboration between the government and private sector, particularly in states like Maharashtra, will be crucial in achieving this target.