Despite an increase in the planting area, India's corn production is projected to drop by 6.7% year-on-year to 35.5 million tons in 2023/24. This decrease, coupled with a growing demand for ethanol, is driving up corn prices. However, the USDA anticipates that prices will remain steady through the end of MY 2023/24, and corn prices are still lower than those of rice, wheat, and other coarse grains.