Business Opportunities in India-s Maize Sector

For India, maize is significant because 15 million Indian farmers grow maize. Maize is a promising crop for doubling farmers' revenue, having realized Maize's potential for producing greater income to farmers while offering profitable employment. The Maize value chain in the country has enormous growth potential. In the last five years, maize consumption has climbed by 11% at CAGR. Nowadays, Maize provides more than 3500 specialty maize products such as the 'Quality Protein Maize' QPM. These movements open substantial opportunities for the maize industry in India.

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Indian Maize Agri-Business Scenario

In the Indian context, not less than 15 million farmers cultivate maize, which produces jobs at farming levels and links business eco systems for more than 650 million people a day. More than 2% of the production value of all crops is mostly contributed by maize. It is a 'C4' and 'day-neutral crop which produces a larger yield per hectare over a shorter period and can be cultivated at any time of the year.

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The crop is less water-efficient than other similar crops. The many maize utilities like 'food,' 'fodder' and 'feed' make it easier to demand and insulate against situations with low demand.

These particular qualities of maize make the crop a potential crop choice for boosting farmer’s income and livelihoods in India.

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The demand of Maize Business in India and Support by FICCI

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Considering the demand, the utilization of maize grew by 2% over the previous year to 24 Mn of MT in 2016-17. The cumulative demand includes 13.5 Mn MT of poultry food, 1.8 Mn MT of starch, 1.2 Mn MT of ethanol, and a balance of food, seed, and other applications. More specifically, maize growers can enjoy tremendous opportunities in the feed sector rising at the CAGR of 6-7% globally and CAGR of 9% in India. India would require 45 Mn MT of Maize by the year 2022 to satisfy its domestic consumption requirements alone.

FICCI has developed Maize Vision 2022, a strategy that involves a backward and future linkage to bring about the paradigm shift in the crop sector, to meet the desired demand levels and increase farmer income. These strategies were established in line with the opportunities and future considerations across the corn value chain. The actors in the corn value chain, which play an important role in the return and forward link chains, are effectively handled through Maize Vision 2022.

Opportunities in Different Fields

The increased use of maize for feed and industrial applications, especially for poultry feed and starch, has provided considerable support to demand, and lateral investment options have also been opened up by establishing maize processing infrastructures. In the scenario, the portfolio for Indian maize starch can be expanded, the percentage recovery from crops can be improved and beverages and biofuel consumption may be increased. The supportive policy and investment climate for these projects would surely provide Maize processing and value-added industries a major boost.

Book Link: Handbook on Maize (Corn) Processing and Manufacture of Maize Products

Conclusion

In total, the maize-based industry, which is mainly attributable to the private sector, has risen considerably, as opposed to traditional crops such as paddy and wheat. Successful implementation of the maize vision 2022 is of fundamental importance to deliver a major boost to the sector. A viable policy framework with closer stakeholder commitments across the entire value chain would be critical and stimulate the fast-growing crops with a vital boost for the agricultural sector as a whole.

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To realize the potential of maize as the "future crop of cereals," strategies and measures must be merged to promote technological breakthroughs, promote aggregation and linkages between producers, enable infrastructures to support, abandon PPP relations and facilitate various policy measures.

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Assumptions for Profitability workings	Plant Economics
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Working Capital Requirement Per Month Raw Material Packing Material Lab & ETP Chemical Cost Consumable Store
Overheads Required Per Month And Per Annum Utilities & Overheads (Power, Water and Fuel Expenses etc.) Royalty and Other Charges Selling and Distribution Expenses
Salary and Wages	Turnover Per Annum
Share Capital Equity Capital Preference Share Capital
Annexure 1:: Cost of Project and Means of Finance
Annexure 2:: Profitability and Net Cash Accruals Revenue/Income/Realisation Expenses/Cost of Products/Services/Items Gross Profit Financial Charges Total Cost of Sales Net Profit After Taxes Net Cash Accruals
Annexure 3 :: Assessment of Working Capital requirements Current Assets Gross Working. Capital Current Liabilities Net Working Capital Working Note for Calculation of Work-in-process
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Annexure 12 :: Shareholding Pattern and Stake Status Equity Capital Preference Share Capital
Annexure 13 :: Quantitative Details-Output/Sales/Stocks Determined Capacity P.A of Products/Services Achievable Efficiency/Yield % of Products/Services/Items Net Usable Load/Capacity of Products/Services/Items Expected Sales/ Revenue/ Income of Products/ Services/ Items
Annexure 14 :: Product wise domestic Sales Realisation	Annexure 15 :: Total Raw Material Cost
Annexure 16 :: Raw Material Cost per unit	Annexure 17 :: Total Lab & ETP Chemical Cost
Annexure 18 :: Consumables, Store etc.,	Annexure 19 :: Packing Material Cost
Annexure 20 :: Packing Material Cost Per Unit	Annexure 21 :: Employees Expenses
Annexure 22 :: Fuel Expenses	Annexure 23 :: Power/Electricity Expenses
Annexure 24 :: Royalty & Other Charges	Annexure 25 :: Repairs & Maintenance Exp.
Annexure 26 :: Other Mfg. Expenses	Annexure 27 :: Administration Expenses
Annexure 28 :: Selling Expenses	Annexure 29 :: Depreciation Charges – as per Books (Total)
Annexure 30 :: Depreciation Charges – as per Books (P & M)	Annexure 31 :: Depreciation Charges - As per IT Act WDV (Total)
Annexure 32 :: Depreciation Charges - As per IT Act WDV (P & M)	Annexure 33 :: Interest and Repayment - Term Loans
Annexure 34 :: Tax on Profits	Annexure 35 ::Projected Pay-Back Period And IRR