Thai tax exemption for Myanmar corn to expire this month

By Admin 15 Aug 2023

DMG Newsroom
15 August 2023, Sittwe

Myanmar merchants will lose tax exemption for corn exports to Thailand if they fail to make shipments this month as Thailand-bound trucks carrying corn are stuck on the Asian Highway in Kayin (Karen) State’s Myawaddy Township.

The tax exemption granted by the Thai government on corn exports from Myanmar is set to expire at the end of August, according to merchants.

“Corn merchants who have withdrawn proceeds in advance from banks have to ship the cargo within this month,” said corn merchant Ko Toe Htet Naing from Shan State’s Taunggyi. “Others might lose the tax exemption for corn exports.”

The border trade between Myanmar and Thailand came to a halt after a massive landslide took place on the Asian Highway between Myawaddy and Kawkareik township in Kayin State. The road is a key border trade route between Myanmar and Thailand.

While Myanmar continues to ship corn to China and other countries by sea, corn prices have dropped to 1,200 kyats per viss, said merchants.

“Thailand is the main buyer of Myanmar’s corn. Exports are also made to China and Vietnam, but they don’t give as high prices as Thailand,” said secretary Dr. Phyo Ko Ko Naing of the Myanmar Corn Industrial Association.

If the remaining stocks of corn can’t be exported to Thailand this month, it will affect the market when the harvest for corn arrives, corn merchants say.

The Trade Department on August 8 said traders could use other routes to transport their cargo if they have export and import licenses. Merchants, however, say it is not convenient to use other routes.