Source says traders import 100,000 tn maize from Myanmar at zero duty

Traders have imported about 100,000 tn of maize from Myanmar in January and February, when prices of the coarse grain in domestic spot markets rose sharply. Maize imported from Myanmar is duty-free as India allows import of some commodities from 'least developed countries' at zero duty, irrespective of the curbs placed on imports. Myanmar has been categorized as a 'least developed country' by the United Nations since 1987.Indian buyers had signed deals to import around 150,000 tn of maize from the neighboring country over the past few weeks and 100,000 tn maize has been imported so far. The maize from Myanmar was bought at prices ranging between $260 and $275 a tn, depending on the port of delivery. Domestic bulk buyers had turned to Myanmar to import maize due to tepid supply in spot markets and rising prices of the coarse grain

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