Domestic corn price slides tracking corn prices in Thailand

The domestic corn prices has fallen following the price dip in Thailand, said U Min Khaing, chair of the Myanmar Corn Industrial Association.
“The corn prices drop. Last month, corn fetched 13.25 baht per kilogramme in the market in Thailand. The prices declined to 12.5 baht at present. The price is relatively down in border markets between Myanmar and Thailand as Myanmar’s corn is heavily relying on Thailand,” said U Min Khaing.
Additionally, the corn crop will soon be harvested in Thailand in the coming months. Nevertheless, we cannot say for sure whether the price will remain on downward trends or not, he added.
The prices of corn stand at K1,060-1,080 per viss depending on quality.
Thailand gives green light to corn imports under zero tariff (with Form-D), between 1 February and 31 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.
Therefore, only two months (July and August) have remained for corn exports under Form D exemption.
In the 2021-2022 corn season, Myanmar targets to export about 1.5 million tonnes of corn to external markets, said U Min Khaing.
Myanmar exported 2.3 million tonnes of corn to foreign trade partners in the 2020-2021 corn season. Of them, 1.7 million tonnes of corn were sent to Thailand. 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 produces between 2.5 and 3 million tonnes of corn every year. — NN/GNLM