YANGON, MYANMAR — Myanmar’s corn production and exports are forecast to remain high in the 2021-22 marketing year due to high price incentives, according to an Aug. 19 Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).
Formerly known as Burma, Myanmar is expected to produce 2.57 million tonnes of corn this year, unchanged from 2020-21.
“Corn production will remain high due to increased export demand and high domestic prices,” the USDA said. “Some farmers are hesitant to plan corn due to increased costs for agricultural inputs, especially for urea fertilizer, while high corn prices are incentivizing others to plant more corn.”
The country’s domestic consumption is forecast to decrease in 2021-22 due to lower livestock production caused by the COVID-19 pandemic and last February’s military coup that created new economic challenges, including difficulties in banking and trading.
“Animal feed is usually provided to livestock farmers using a credit system, but now animal feed producers are requiring farmers to buy feed in cash due to poor cash flow and banking challenges following the coup,” the USDA said.
Myanmar’s corn exports have been increasing since 2016 with exports already reaching 2.26 million tonnes during the first nine months of the 2020-21 marketing year, which ends in September. That already exceeds total exports for 2019-20, the USDA said.