The ban, effective Thursday, will be in force until Oct. 15, the directorate general of trade said on its Web site.

Record raw-material prices have stoked inflation globally, prompting governments to take measures to safeguard supplies of food staples. Indian Prime Minister Manmohan Singh’s government has restricted exports of rice, wheat and cooking oils to ensure domestic supplies are adequate.

Indian corn exports likely totaled a record 2 million tons in the year ended June as feed makers in Southeast Asia sought cheaper alternatives to supplies from the U.S. Exports were just 400,000 tons last year. Shipments may reach 1.5 million tons in the year beginning October, the U.S. Department of Agriculture said in a report on June 10.

Corn futures for December delivery dropped 0.1 percent to US$7.795 a bushel in after-hours trading on the Chicago Board of Trade. Earlier, prices fell as much as 1.6 percent. Corn touched a record US$7.9925 on June 27.

Futures traded on India’s National Commodity & Derivatives Exchange Ltd. in Mumbai fell by the daily limit. Corn for July delivery fell 4 percent to 931.50 rupees per 100 kilograms at 2:03 p.m. Mumbai time Thursday.

India harvested a record 18.5 million tons of corn in the year ended June, up 22.5 percent from a year earlier, according to the farm ministry.

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