Corn price slump persists

Farmers said that due to the decrease in corn exports to Thailand, the domestic corn price is heading downwards and is around K500-800 per viss.
The domestic corn price peaked at around K1,100 in 2022 and then declined.
“Now the price is low. I don’t know if I will lose if new corn is harvested,” said a corn farmer.
The market of corn exported to Thailand has decreased due to the issuance of export licences after the receipt of export earnings for the export of corn, the setting of exchange for the export and sale of goods in US dollars only, and the sale of foreign currencies exported only at the Central Bank’s exchange rate.
In the first six months of 2022, due to the exchange rate and purchasing conditions in Thailand, the price of corn rose from K950 to K1,100 per viss. Since July, exports have been decreasing, and the price also depends on the region.
As corn prices continue to fall, farmers are worried that the corn will be harvested in October.
A corn farmer said that if the price is up to K700 per viss, it is the basic price of the farmers and only if it is above this price, there will be profit.
This year, China is also officially planning to import corn, and many companies are preparing to obtain export licences to China, so they hope to be able to export.
In 2022, corn farmers will have to double their agricultural inputs and spend an average of K800,000 per acre on purchase of inputs, so they need to make a profit without the price falling.— TPT/GNLM

Share this post
Hot News
Hot News