Myanmar corn obtains duty-free rights and will export 300,000 tons to India

Published 2024년 7월 15일

Tridge summary

Three ships carrying corn kernels from Myanmar have docked at Thoothukudi Port in Tamil Nadu, India, with more expected by the end of July. The duty-free import of approximately 300,000 tons of corn kernels from Myanmar has been approved by India. The initial batch will be used for starch production and exported, while the second batch will be converted into ethanol. The price of the corn kernels has already increased from $268 per ton to a higher rate, with more ships expected to dock in the future.

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Original content

Three ships carrying corn kernels have already docked at Thoothukudi Port in Tamil Nadu, and more ships carrying corn kernels will continue to dock at the end of July. Currently, corn kernels from Myanmar have begun to enter India. As some trading agreements are still under negotiation, only three ships carrying corn kernels have docked recently. Vangili Subramanian, chairman of the Tamil Nadu Egg Poultry Farmers Marketing Society-PFMS, said that as of now, according to consensus, there will be about 10 ships carrying corn kernels docking in the future. The price of corn kernels was $268 per ton at the beginning, but now the price has risen. Sanjay Sancheti, head of Olam Agro India Ltd, said that we have imported the first batch of corn kernels from Myanmar at a price of $268 per ton, ...

Source: Foodmate