India has started importing corn from Myanmar duty-free to meet its surging demand. At least three ships have already arrived at VO Chidambaranar Port in Tamil Nadu’s Thoothukudi, with more expected by July-end. Corn imports from Myanmar are duty-free as Myanmar is considered a least developed country, while imports from other countries face a 60% duty, a 5% IGST, and a 10% social welfare surcharge.
However, the Centre allows tariff rate quota (TRQ) imports at a 15% concessional duty. The duty-free imports are a result of negotiations between economic associations from India and Myanmar. India requires over 1 million tons of corn annually for its poultry farming sector alone. The move aims to stabilize supply and meet the growing demand, particularly from the poultry, starch, and ethanol sectors.
Citations:
[1] https://cmbroker.cloud/public/news/50699
[2] https://www.thehindubusinessline.com/economy/agri-business/india-begins-importing-myanmar-corn-duty-free-to-meet-surging-demand/article68263325.ece
[3] https://commodity-board.com/india-starts-importing-duty-free-corn-from-myanmar/
[4] https://www.youtube.com/watch?v=XP-q9wXGCUs
[5] https://cnimyanmar.com/index.php/english-edition/22897-india-exempts-myanmar-corn-from-customs-duty