Kazakhstan raised grain harvest forecast to 27.7 mln tons
The Grain Union of Kazakhstan has raised its forecast for the grain harvest to 27.7 million tons. This was announced today at an international conference in Astana by Yevgeny Karabanov. According to industry experts, Kazakhstan is expected to have the highest harvest in the last 6 years.
According to Mr. Karabanov, the volume of soft wheat harvest is expected to reach 16.8 million tons. According to forecasts, 8.9 million tons of grain (including flour in grain equivalent) will be exported.
According to the conference, the main volume of wheat this season will not be higher than grade 4. It was noted that further quality decline is possible, as the grain is wet.
Market participants noted that quality grain has already increased in price. Wheat with 27-28% gluten is traded at 110 thousand tenge per ton.
Grain prices will continue to rise, according to industry representatives. Farmers are advised to keep grain in anticipation of rising prices. It is reported that prices are already rising on world markets.
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