Myanmar earns US$279 mln in corn exports in Apr-Dec

Myanmar shipped 934,883 tonnes of corn worth over US$279 million to foreign trade partners as of 29 December in the current financial year 2023-2024, beginning 1 April, as per the Ministry of Commerce.
Myanmar Corn Industrial Association forecast corn exports to reach over two million tonnes in the 2023 corn season, Patron U Min Khaing said.
The prevailing corn prices are K1,180-K1,200 per viss in the domestic market, according to the Yangon Region Chambers of Commerce and Industry (Bayintnaung Commodity Centre).
Myanmar exports corn to China and Thailand through the border. Also, it ships corn to China, India, Viet Nam and the Philippines via maritime trade, according to the Myanmar Corn Industrial Association.
Thailand gave the go-ahead to the 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 exported more than two 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