Myanmar’s corn exports halve in 2019-2020FY
Myanmar shipped over 100,000 tons of corn to other countries during October-November in the current financial year compared to 200,000 tons in the year-ago period .As China is the major purchaser of Myanmar corn, the price is positively related to demand from the neighboring country.
At present, corn prices are ranging around K340-380 per viss.
China sometimes allows traders to directly purchase corn up to a certain limit as a substitute for opium.If the export volume exceeds the quota, corn is confiscated as it is considered an illegal good. Laos traders have proposed purchasing rice and corn produced in Shan State and re-exporting them to China.Besides China, Myanmar also exports corn to India, Viet Nam, Malaysia, Singapore, the Philippines, and Thailand. But, the volume of exports to those markets is low.
There are more than 1.9 million acres of corn plantations in Myanmar, primarily in Sagaing and Magway regions, and Chin, Kayin, Shan, and Kayah states.Myanmar exported 1.5 million tons of corn, worth US$270 million, in the 2018-2019FY; 1.4 million tons of corn, worth over $290 million, in the 2017-2018FY; 1.2 million tons of corn, worth $250 million, in the 2016-2017FY; and, 1.1 million tons of corn, worth $300 million, in the 2015-2016FY.
Source: Global New Light of Myanmar
252total visits,1visits today