MYANMAR has been delivering a large supply of corn to Thailand through the Myawady border under the preferential zero tariff. The price of corn is estimated at over K800 per viss (a viss equals 1.6 kilogrammes), said corn traders.
Thailand gives the 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.
From 1 February 2022, more than 100 trucks carrying corn have been conveyed to Thailand.
The corn traders have a full inventory in the warehouses in Myawady border city, U Min Khaing, Chair of the Myanmar Corn Industrial Association said.
Myanmar is targeted to deliver 1.5 million tonnes of corn to the external market in the current 2021-2022 corn season.
Last 2020-2021 financial year, the country shipped more than 1.7 million tonnes of corn to Thailand, U Min Khaing was quoted as saying.
The price is on the rise on the back of strong foreign demand and Kyat depreciation on a US dollar in the local exchange market.
The prevailing price of corn is K820-840 per viss in the Yangon market, the Yangon Region Chamber of Commerce and Industry.
Myanmar exported 2.3 million tonnes of corn to foreign trade partners in the previous FY. The majority of them were sent to Thailand and the remaining went to China, India and Viet Nam.
At present, 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 yearly produces 2.5-3 million tonnes of corn. — NN/GNLM