Stability Reigns: Maize prices hold firm in market

According to the market information, Myanmar’s maize price remains unchanged, without fluctuation in the domestic market at K1,060 per viss, which has remained since before the Thingyan Festival.
Myanmar exports maize to Thailand and China via border trade route and to China, India, the Philippines and Viet Nam through shipment, according to the Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association.
Thailand granted Myanmar maize exporters tariff benefits under Form D from 1 February to 31 August. However, Thailand imposed a maximum tax rate of 73 per cent on maize imports to protect the interests of their growers if the maize is imported during the corn season of Thailand.
In addition, China also purchases maize from Myanmar through land borders under the poppy substitution programme. Moreover, Myanmar and China commenced the legitimate maize trade schemes at the end of 2023. A total of 112 companies were allowed to export maize under the abovementioned schemes.
Myanmar exported more than two million tonnes of corn to foreign trade partners in the 2022 corn season. The majority of them were sent to Thailand, and the remaining went to China, India, the Philippines and Viet Nam.
The country produces 2.5-3 million tonnes of maize every year. — NN/TMT