Myanmar intends to ship over 1.5 mln tonnes of corn to Thailand this corn season

NATIONAL NEWS

Myanmar targeted to deliver 1.5 million tonnes of corn to the external market in the current 2021-2022 corn season, U Min Khaing, Chair of the Myanmar Corn Industrial Association said.
Last 2020-2021 financial year, the country conveyed more than 2.3 million tonnes to the external market and over 1.7 million tonnes of corns were sent to Thailand. The remaining went into China, India and Viet Nam.
Thailand gives green light to corn imports through Mae Sot under zero tariff (with Form-D), between 1 February and 31 August.
Thailand has granted tax exemption on corn imports between February and August. However, Thailand imposed a maximum tax rate of 73 per cent on corn import to protect the rights of their growers if the corn is imported during the corn season of Thailand.
As a result of this, Myanmar traders are pepping to export the corn to Thailand starting from 1 February. They have full inventory in the warehouses in Myawady border city, U Min Khaing continued.
“Majority of the warehouses in Myawady is completely packed with corn stocks. Some traders have already signed an agreement. Trading activity commences for now,” he added.
The price is pretty high on account of foreign demand and Kyat depreciation on the US dollar.
The prices of corn moved in the range of K760-K780 per viss (a viss equals 1.6 kilogrammes) in Yangon, slid to K720-K725 per viss in Mandalay and touched a high of K820-K840 per viss in the Myawady market, market’s data showed.
This year, the drop in sowing acreage led to the decline of production.
At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has winter, summer and monsoon corn seasons. The country yearly produces 2.5-3 million tonnes of corn.—NN/GNLM

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