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Mumbai - World maize supplies are estimated to fall by 0.8 per cent, the first year-on-year decline since 2002-03, cited latest report of International Grain Council (IGC) Thursday. Demand appeared to have been little affected by the steep rise in prices, remaining firm in both feed and industrial sectors. As a result, carryovers are expected to tighten considerably, including a 60 per cent drop in the US. World trade is forecast to increase to 96 million tons, it is highest in three years, supported by bigger shipments to the EU, China and North Africa. The report further said that high prices are forecast to boost world plantings by 3 per cent in 2011-12. Assuming yield growth returns to trend, global production is projected to increase by almost 5 per cent, to a record 847 million tons. Potentially tight supplies and firm market prices are expected to limit consumption growth to 1.3 per cent. Although meat demand will remain firm in number of developing countries, overall growth in maize use will likely slow, as livestock producers switch to wheat. Due to a projected standstill in demand from US ethanol producers, global industrial use of maize is forecast to slow to only 1.3 per cent. A larger crop in the EU and increased competition from feed grade wheat is projected to result in 1 per cent drop in world trade to 94 millions tons |
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World maize supply estimated to fall by 0.8pc
World maize supply estimated to fall by 0.8pc
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