THE prices of corn soared to K41,000 per three-basket bag on 1 October on account of the growing demand in the domestic market and Thailand’s market, traders from Mandalay said.

The favourable weather condition resulted in a high yield during the 2021 corn season. Tracking the high demand by foreign trade partners, the corn price jumped to K41,000 on 1 October whereas it fetched only K31,000 per bag in mid-September. Furthermore, the corn market sees a brisk trade.

“Following the good rainfall, it is highly yielded. The price also tremendously rose by K10,000 within weeks. Besides Thailand, India also purchased them these days to meet their market’s needs. Additionally, the local feedstuff processing plants are also steadily buying them as raw materials, causing the price rise,” said an owner of the Soe Win Myint depot from Mandalay.

The corn can be planted in multiple cropping forms. At present, corn is abundantly produced in Shan, Kachin and Kayah states. It is soon to be harvested in Nay Pyi Taw areas (Tatkon and Pyinmana townships).

Min Htet Aung (Mdy Sub-Printing House)/ GNLM

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