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Myanmar corn depends on the Thai market | Palm oil prices fell slightly by | Myanmar sells seed fertilizers to farmers at affordable prices

author:Myanmar sourcing

Myanmar corn relies on the Thai market

Myanmar corn depends on the Thai market | Palm oil prices fell slightly by | Myanmar sells seed fertilizers to farmers at affordable prices

According to the Myanmar Corn Industry Association, in the first nine months of this fiscal year (October 1, 2021 to June 15, 2022), Myanmar exported a total of 1.8 million tons of corn.

The main exporting countries are: Thailand, China, Vietnam, the Philippines and India.

Myanmar's corn export target for the fiscal year (October 2021 to September 2022) is about 2 million tonnes.

Thailand grants zero tariff treatment to Myanmar maize between February 1 and August 31 each year.

Outside of that time, a 73% tax rate will be levied on thai corn to protect the power of domestic growers.

Some merchants said that the price of corn in Myanmar is heavily dependent on the Thai market.

At present, the market price of corn in Myanmar is 1030-1050 KYK/MAKIN (equivalent to about 2 yuan/kg).

In the 2020/21 financial year (October 2020 to September 2021), Myanmar exported 2.3 million tonnes of maize to the outside world, of which 1.7 million tonnes were exported to Thailand.

Maize is mainly grown in Shan, Kachin, Kayah, Kayin, Mandalay, Sagae and Magway provinces, with an annual production of 2.5 million to 3 million tonnes.

Palm oil prices in Myanmar fell slightly

Myanmar corn depends on the Thai market | Palm oil prices fell slightly by | Myanmar sells seed fertilizers to farmers at affordable prices

Some consumers said that the price of palm oil in Yangon fell from 8,400/BURT last week to 7,200/Myanmar kg on the 20th (about 17 yuan to 15 yuan).

The official myanmar guidance price for this week (June 20-30) is 5,810 KYAt/BURT (equivalent to about 12 yuan).

By the end of July 2022, Indonesia's palm oil export tax will be reduced from $375 per ton to $200, and from August 1, it will be levied at $240 per ton.

On June 20, palm oil was priced at $1,172/ton in the international market, down $68.57 per ton from the price on the 17th.

From 10 to 13 June, two cargo ships carrying 5,000 tons of palm oil and one cargo ship of 4,300 tons docked at The Quays of Dilava and Thedin, respectively.

Myanmar sells seeds and fertilizers to farmers at affordable prices

Myanmar corn depends on the Thai market | Palm oil prices fell slightly by | Myanmar sells seed fertilizers to farmers at affordable prices

The Myanmar Rice Production Association will compete for affordable seeds and fertilizers for farmers.

The association will contact farmers and importer companies so that they can buy seeds and fertilizers at preferential prices during the rainy season.

Myanmar corn depends on the Thai market | Palm oil prices fell slightly by | Myanmar sells seed fertilizers to farmers at affordable prices

Each bag of rice seeds weighing about 21 kilograms sells for between 18,000 and 23,000 Kyats (or about 60 to 76 yuan).

On June 16, the Myanmar Urea and Fertilizer Distribution Commission sold about 75,000 tons of urea at preferential prices.

Each bag of urea weighing about 50 kilograms sells for between 86,000 and 100,000 kyats (equivalent to about 286-336 yuan).

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