October 25, 2012

Myanmar exports corn to the Philippines

Myanmar recently signed deal with Philippine feed millers on exporting corn at US$315/tonne, about US$60 lower than the cheapest grade of Australian wheat.

According to Dow Jones, corn from Myanmar is a prudent choice for the Philippines as it is subject to only a 5% duty under the Asean free trade agreement, compared to a 50% duty on non-Asean imports to protect domestic growers.