Recovery in the grain market has begun in Kazakhstan

The grain market in Kazakhstan has seen an uptick in activity. Prices for crops have increased by 10-12% per month. Grain growers predicted a similar situation in the fall, said Evgeny Karabanov, representative of the Grain Union of Kazakhstan.

“There are changes in the price, but they are more local,” said our interlocutor.

According to him, as of January 20, the prices in Kazakhstan were as follows:

• Grade 3 wheat with 23-24% gluten – 65 thousand tenge including VAT
• Grade 3 wheat with 25-26% gluten – 72-78 thousand tenge including VAT.
• Grade 3 wheat with 27-28% gluten – 85-95 thousand tenge.
• Grade 3 wheat with 29+ gluten costs 100-110 thousand tenge.
• Grade 4 wheat – 58-62 thousand tenge including VAT.
• Barley – 60-64 thousand tenge.
• Flax – 210-220 thousand tenge.

“The price fork depends on the volume, location and other quality parameters. As for Grade 5 wheat, I heard that they are ready to buy it at 50-52 thousand tenge,” Mr. Karabanov said.

Over the month, the price increase was about 10-12% depending on the crops.

“This is in tenge. And if we eliminate the devaluation, the price went up by about 7-8%. This is what we at the Grain Union talked about back in September-October. We said that the market would revive by February. This is what is happening. This is a normal reaction,” said Mr. Karabanov.

1000 tenge = 80 UAH