Vietnam is buying unprocessed maize and prices may continue to rise

Published Jan 19, 2021

Tridge summary

The price of maize in Myanmar is expected to reach around 530 kyat at the end of January due to high demand from Korean factories in Vietnam. This demand is driving up the price, as Vietnamese factories are currently purchasing cheaper GMO maize from the United States. However, non-GMO maize from Myanmar is more expensive, leading to higher prices for farmers. The maize is primarily grown in various regions of Myanmar, including Pakokku, Myingyan, Kachin State, Kayah State, Karen State, Shan State, Nay Pyi Taw Pyinmana, Tatkone, and Sagaing Divisions. Contract farming is being used to improve maize quality and market value, with plans to expand this initiative. The government is setting a base reference price for crops like maize to prevent price drops during the growing season and has added maize to the list of project crops.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Min Khaing, chairman of the Myanmar Maize Industry Association, told Green Way that the price of maize could reach around 530 kyat at the end of January due to demand from Korean factories investing in Vietnam, which are buying unprocessed maize from Myanmar. Vietnam has been importing GMOs from the United States for the rest of its life. GMOs are cheaper. At present, the FOB price in Myanmar is only $ 254. However, it costs only $ 222 to arrive at the Vietnamese port. If you go from Myanmar, it will be at least 260. It will be only $ 222 there. But that is GMO. Here is Non GMO. Korea was forced to buy non-GMOs. There is such a thing. The last 11 months of the corn crop 12 months In the 11th and 12th months, the price was not available. In the first 11 months, farmers did not get good prices. 330 340 is selling like that. As a result, the price in Yangon has risen from around 450 to 500. It went up by a thousand baskets. So it is more suitable for farmers. The Thai market will ...

Source: Greenwaymyanmar