The demand for corn and soymeal for animal feeds in India is expected to rise 9 percent to 10.9 million metric tons in 2014, according to a report. This is due to increasing consumption of eggs and chickens in the Southeast Asian country. Most of the growth in demand will be in corn due to ample supply and lower prices.
The higher demand locally could further reduce overseas sales already under pressure from lower grain pricing in Latin America. India is the leading seller of corn and soymeal in Southeast Asia, and the world's fifth largest producer of broilers.
"Consumption of feeds, mainly corn is expected to increase because demand for poultry products are likely to rise by at least 6 percent this year," said Sanjeev Chintawar, business manager for the National Egg Coordination Committee.
"We expect about 1 million tonnes (907,185 metric tons) per month demand for corn and soymeal over the next two months," said Ricky Thaper, an official of the Poultry Federation of India. He said the monthly demand for corn would be 680-725 metric tons, while demand for soymeal would be 181-227 metric tons.