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Sunday, December 15th, 2019

KAZAKHSTAN STOCKED UP WITH 350K TONS OF WHEAT

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by November 28, 2019 Market

The Food Corporation completed the buildup of a grain reserve. 350 thousand tons of food wheat of the 2019 harvest were received in country’s special stores, the Agriculture Ministry informs.

On October 28 this year, the Food Corporation again changed purchase prices in order to accelerate the purchase of grain in a reserve. The difference between old and new indicators amounted up to 18 thousand tenge per ton, depending on the quality indicators of products.

A higher price guarantied Kazakhstani peasants, faced with adverse weather conditions during harvesting, guaranteed sale of grain at a better price. This, in turn, brought them closer to the planned level of profitability.

In general, the Food Corporation purchased about 350 thousand tons of wheat of the 3rd and 4th classes of the 2019 harvest.

The formed reserve, if necessary, will allow for stabilization functions and maintain affordable prices for flour and bakery products in the domestic market in 2020.

Source: Kazakhtan 2050

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