Maize prices dip slightly to K600

October 20


THE prices of maize declined slightly to over K600 per viss (a viss is equal to 1.6kg), according to the Yangon Region Chambers of Commerce and Industry (Bayintnaung Wholesale Centre).


On 1 October, maize was priced at K730-750 per viss, whereas it dipped slightly K640- 660 per viss on 19 October.


However, the prevailing market price is higher than the price registered during the year-ago period. Last year, maize fetched only K450-500 per viss.


The monsoon maize is being harvested for now. The feed processing factories are purchasing the maize at the harvest time, said U Min Khaing, chair of Myanmar Corn Industrial Association (MCIA) said.


Myanmar is the second-largest exporter of maize among regional countries. At present, maize is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three maize seasons: cold, summer and monsoon. The country yearly produces 2.5-3 million tonnes of maize.


Myanmar has exported more than 2.2 million tonnes of corn to foreign countries last financial year 2020-2021, said MCIA Chair U Min Khaing.


Of 2.2 million tonnes, about 1.6 million tonnes of corn were delivered to Thailand, whereas the remaining corns were conveyed to China, India and Viet Nam.


During the FY2019-2020 ended 30 September, the country exported 2.2 million tonnes of corns to the external market, with an estimated value of $360 million, the Ministry of Commerce’s data showed. — NN/ GNLM