Foreign demand drives maize prices up

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A thriving corn plantation.

Following a slight increase in foreign demand for maize, the price moved up a bit to K1,090 per viss on 3 May.
The maize price remained unchanged at K1,060 per viss from the last week of March.
Myanmar exports maize to China and Thailand through the border and ships to China, India, Viet Nam, and the Philippines through maritime channels, according to the Myanmar Corn Industrial Association.
Thailand, the leading importer of Myanmar’s maize, grants maize 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 maize imports to protect the rights of their growers if the corn is imported during the corn season of Thailand.
Additionally, China has been purchasing Myanmar’s maize through cross-border trade under the opium substitution programme. Legitimate maize trade between Myanmar and China commenced at the end of 2022. A total of 112 Myanmar companies have been permitted to export maize.
Myanmar conveyed over 2 million tonnes of maize to foreign trade partners in the 2022 maize season. The majority of them were sent to Thailand, and the remaining went to China, India, the Philippines and Viet Nam.
The maize is cultivated in Shan, Kachin, Kayah, and Kayin states as well as Mandalay, Sagaing, and Magway regions. Myanmar has three maize seasons: winter, summer, and monsoon season. Myanmar’s annual maize output is estimated at 2.5-3 million tonnes. — NN/EM

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