Almaty. September 13. Information Center - A
big shortage in the harvest in Kazakhstan may lead to an increase in wheat
prices, coupled with a global trend of growth in grain prices, the official
representative of the country's Grain Union, expert Yevgeny Karabanov told
Trend, MENAFN reports.
According to Karabanov, the rise in wheat prices is a global
trend, and Kazakhstan is no exception since it's a part of the global market.
"Therefore, just as elsewhere, there is a trend towards
an increase in wheat prices in Kazakhstan. The current market situation shows
that prices have already increased by $10-15 compared to the prices announced
by the Food Corporation. Last year, wheat cost around 80,000 tenge ($188) per
ton, while now wheat costs about 110,000 tenge ($258). This means a growth of about 37 percent,"
noted that this will lead to an inevitable growth in prices for the Kazakh
wheat importing countries, as for the domestic market, thanks to the forward
purchase of grain by the Food Corporation, prices can be regulated.
corporation has already purchased more than 70,000 tons, so it, as a regulator,
will be able to regulate the market through this grain, maintain a more or less
acceptable price. The price, of course, will rise, but not in the amount in
which it will rise for importers," Karabanov further said.
noted that the Grain Union expects a reduction in the wheat harvest this
agricultural year compared to the past, the main reason for which, according to
him, is dry weather conditions.
question is how much the harvest will be less than last year's, but it's still
too early to talk about it, since only 50 percent of the area has been
harvested, and namely the first crops which suffered most of all have been
harvested. However, the Grain Union predicts a harvest of 10.5-11 million tons
of wheat, which is below the level of last year - 13.7 million tons. That is,
the expected reduction in harvest will be 20 percent," added the expert.