Indian port congestion hits grain supply

Congestion at Indian ports is delaying corn and rice shipments to Asia and Africa, dealing a fresh blow to buyers stung by record-high global grain prices as a worsening US drought threatens to spark a shortage in food supply, reports Reuters.

Ships faced up to 25 days of waiting at ports on the east coast, traders and port officials said, delaying cargoes to millers who are heavily relying on cheaper South Asian shipments amid tight US and South American supplies.