GACC nods 112 companies for maize exports, some companies start exporting

October 24, 2022

A total of 112 companies have been given the go-ahead for maize export and some companies commence exporting, said U Aye Chan Aung, chair of Myanmar Corn Industrial Association.
At present, more than 1,000 tonnes of maize has started exporting to China on a trial run.
The Ministry of Agriculture, Livestock and Irrigation and the General Administration of Customs of the People’s Republic of China (GACC) signed a SPS Protocol (Sanitary and Phytosanitary Protocol) agreement on 31 January in order to have a legitimate maize export to China.

According to the agreement, Myanmar’s maize is exported to China for processing.
The fresh monsoon maize starts flowing into the markets. Myanmar delivers maize to the Chinese market on a trial run and the maize is also shipped to Viet Nam and the Philippines.

The prices of maize rebounded to K1,080 per viss (a viss equals 1.6 kilogrammes).Thailand gives green light to corn imports under zero tariff (with Form-D), between 1 February and 31 August. However, Thailand imposed the maximum tax rate of 73 per cent on corn imports to protect the rights of their growers if the corn is imported during the corn season of Thailand.
The directive released on 30 June said that transactions for the exports of agricultural produce including corn, rice, beans and oil crops are to be made in dollars instead of Yuan-Kyat/Baht-Kyat.

Therefore, export earnings of the corn have to be exchanged at US dollar according to the reference rate of the Central Bank of Myanmar (K2,100).

Myanmar exported 2.3 million tonnes of corn to foreign trade partners in the 2020-2021 financial year. Majority of them were sent to Thailand and the remaining to China, India and Viet Nam. The country produces 2.5-3 million tonnes of corn every year.—NN/GNLM