India seeks to import 320,000 tonnes of maize

Indian state-run trading company PEC has issued an international tender to import 320,000 tonnes yellow corn (maize), European traders said on Tuesday. The tender closes on January 11 and offers must remain valid up to January 14, they said. Sources said on December 31 that India will soon ask state-run traders to import half a million tonnes of duty-free corn after a second drought in the country cut crops in what would be the country's first overseas purchase in 16 years. India is traditionally a major corn exporter to South East Asia, but higher local prices due to the first repeat drought in nearly three decades and rising domestic demand have hampered exports.