Experts of Kazakh Grain Union announce grain outlook

Experts of Kazakh Grain Union announce grain outlook
kazakh-zerno.net

There will be no grain shortage in Kazakhstan. Despite the decrease in the volume of grain harvest by almost a fourth due to the drought, the country is prepared to fully sustain domestic consumption, Spokesperson for the Kazakh Grain Union Yevgeny Karabanov announced. According to him, the volume of grain harvest in Kazakhstan is expected to reach 10.5 million tonnes this year. More than six million of them will be directed to the domestic market.

“In addition, we have substantial carry-overs, which we estimate at 2.8 million tonnes. Thus, the total balance, with additional imports from Russia, where we expect to receive up to two million tonnes of grain, will not simply cover our domestic consumption, but also remain in the flour and wheat export market in the amount of up to 6.5 million tonnes in grain equivalent,” Karabanov said.

In the meantime, grain continues to grow in price on global markets. Kazakhstan cannot avoid this either. The expert spoke about the factors influencing the rise in prices for products.

“The increase in the price of bread will occur not only and not so much because of the increase in the price of grain and flour, but because of the increase in the cost of other components used in its production. After all, the cost of flour is only 30 percent of the prime cost of bread. The remaining 70 percent is other expenses for other necessary ingredients needed to make bread,” the expert added.

 

Translation by Assem Zhanmukhanova

Editing by Galiya Khassenkhanova