EXPORT OPPORTUNITIES FOR CORN
At the U.S. Grains Council 9th Annual International Marketing Conference and 52nd Annual Membership Meeting, attendees are learning of export opportunities for corn and other grains. In addition, the USGC now represents DDGS as a portion of this market development opportunity, adding value back to the US corn farmer. The Illinois Corn Marketing Board recognizes that exports are a vital component of the corn market and therefore cooperates with USGC to best position Illinois corn farmers in the world market.
Emerging markets, like China and India, are at the top of the "opportunity" list. Here is a report from the USGC Country Director in India, Mr. Amit Sachdev.
Domestic consumption is increasing. Economic growth is stronger than nearby countries. There are pressures on land and water.
The Indian government is looking for ways to support its population, but cultural pressures keep its borders closed to most imports and international investment.
But, there are currently 250 million working age people, and another 110 million will enter the workforce in the next 10 years.
There are currently 90 million Indian households with discretionary spending, and by 2025, the consumers will be younger and better educated, demanding products from all over the world.
The growth of dairy and meat consumption shows the changing face of India.
Corn production and use is growing, including feed and food uses, and distilling for alcohol.
The snack food market is expanding. It imports some corn. 45% of the land in corn production is using hybrid corn.
Amit says, "The thinking is changing, not only the government, but also the people."
And he concludes, "When trade works, the world wins."