July 10, 2019 / 4:38 AM / a month ago

India's MMTC postpones tender to buy corn - trade

HAMBURG, July 10 (Reuters) - Indian state-run trading company MMTC has postponed the deadline for offer submissions in an international tender to import yellow corn to Thursday, July 11, European traders said on Wednesday.

The previous tender deadline was Tuesday, July 9. Offers must now remain valid up to July 18.

The volume purchased will be decided by MMTC later depending on the level of prices received but minimum offers are 24,000 tonnes to 25,000 tonnes.

India lowered import taxes on an additional 400,000 tonnes of corn to 15%, the government said on Tuesday, to counter a rise in animal feed prices in the country following drought last year. (Reporting by Michael Hogan)

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