Corn price rises at slower pace

Corn prices are gradually increasing in the domestic markets due to strong demand by feedstuff factories.
The prices increased to K1,170-K1,190 per viss on 26 December from K1,050-K1,070 per viss on 1 December.
Myanmar exports corn to China and Thailand through land borders. Also, it delivers it to China, India, Viet Nam, and the Philippines by sea, according to the Myanmar Corn Industrial Association.
Thailand nodded corn imports under zero tariff (with Form-D) between 1 February and 31 August. However, Thailand imposes a maximum tax rate of 73 per cent on corn imports to protect the rights of their growers if the corn is imported during the corn season of Thailand.
China has been purchasing Myanmar’s corn through cross-border trade under the opium substitution programme. Legitimate corn trade between Myanmar and China commenced at the end of 2022. A total of 112 Myanmar companies have been permitted for corn exports.
Myanmar shipped 918,606 tonnes of corn worldwide as of 15 December in the current financial year 2023-2024 beginning 1 April, bagging US$275.046 million, the Ministry of Commerce’s statistics indicated.
Myanmar exported more than 2 million tonnes of corn to foreign trade in the 2022 corn season. Most of them were sent to Thailand, and the remaining went to China, India, the Philippines and Viet Nam.
The corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three corn seasons – winter, summer and monsoon. The country produces 2.5-3 million tonnes of corn every year. — NN/EM

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