Domestic maize price jumps on global cues

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  • Domestic maize price jumps on global cues

The maize price in the domestic market went up following strong global market sentiments and stock shortage in the domestic market.
Myanmar’s maize is primarily sent to Thailand at present with free customs duty. They are also sent to China, India, the Philippines and Bangladesh.
Thailand gives the green light for maize imports under zero tariff (with Form D), between 1 February and 31 August. However, Thailand imposes a maximum tax rate of 73 per cent on maize imports to protect the rights of their growers if the maize is imported during the maize season of Thailand.
Additionally, China has been purchasing Myanmar’s maize through cross-border trade under the alternative development programme. Legitimate maize trade between Myanmar and China commenced at the end of 2022. A total of 112 Myanmar companies have been permitted for maize exports.
The maize is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three maize seasons: winter, summer and monsoon. Myanmar’s annual maize output is estimated at 2.5-3 million tonnes. — NN/KK

Source: The Global New Light of Myanmar

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