Myanmar expects to export 700,000 tonnes of corn by April 2024 after signing memorandums of understanding (MOUs)with seven companies from Thailand, China and Vietnam, according to an official from the Myanmar Corn Industrial Association (MCIA).

The MOUs between the MCIA and three Thai firms, two Chinese firms and two Vietnamese firms were signed on 12 December 2023 at the meeting room of the Myanmar Trade Promotion Organization under the Ministry of Commerce in Nay Pyi Taw.

“We have signed MOUs with seven firms from three countries. We forecast to export 700,000 tonnes of corn by April,” the official said.

Currently, maize is selling at a good price in the market, he added.

Myanmar cultivates over 2 million acres of corn and produces 3.2 million tonnes annually, including 1 million tonnes fordomestic consumption and over 2 million tonnes for export, the MCIA stated.

According to the foreign trade date from the Ministry of Commerce of Myanmar up to the beginning of December in 2023-2024 fiscal year, Myanmar has earned nearly US$ 10 billion from the export of various agricultural produce – black gram, rice, broken rice, corn, green gram, rubber, pigeon bean , sesame, groundnut, onion, turmeric, tamarind, dried ginger, elephant foot yam, castor seeds, coffee seeds, cashew nuts, cotton, tapioca, watermelon, musk melon, mango, tissue banana- and marine products – fish varieties, prawn, crab, eel, dried small fish and dried fish.