Kazakhstan. Purchase prices of the Food Contract Corporation help maintain grain prices at optimal levels

28.12.2016

Expected prerequisites for a sag in wheat and barley prices were seen in late November and early December 2016. This was contributed to mostly by an increasing number of grain offers from growers who have to settle their liabilities due in the year’s end (loans, taxes etc.).

To prevent a price drop and support growers, in November 2016 JSC Food Contract Corporation raised prices for wheat and barley (by 21% and 42%, respectively) purchased at grain bases of its subsidiary company Astyk Koymalary.

In early December the same decision was made regarding wheat purchased from other grain-collecting entities that had signed agreements with the Food Contract Corporation (in total, 61 grain collecting stations).

These measures taken by the Corporation helped maintain grain and oilseed prices at levels optimal for growers.  

Besides, JSC Ak Bidai-Terminal (a subsidiary company of JSC Food Contract Corporation) handled a total of over 452 KMT of grain via the Aktau port grain terminal for the 11 months of 2016. At the same time last year this volume amounted to 400 KMT.


 

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