New Delhi may increase purchase of US’ corn, ethanol

these areas. US negotiators are claiming that India could gradually reduce its purchases of Russian crude oil and open the market to non-GM (genetically modified) corn and soymeal from the US. India believes that American products will be consumed by its rapidly growing domestic poultry, dairy, and ethanol industries. The interests of Indian farmers will not be affected. Currently, India imports approximately 500,000 tons of corn annually from the United States. According to the report, India has clearly told the US side that the current 15% tax on non-GM corn will not be reduced. The US is also pressuring India to allow premium cheeses to enter the market, but India is currently unwilling to agree to this. It’s worth noting that Trump imposed a 25% tariff on India in April, followed by a 25% penalty on imports of Russian crude oil, bringing the total to 50%. India currently imports 34% of its crude oil needs from Russia, while importing 10% from the United States. Former Foreign ...