Kazakhstan changes grain market regulation

Kazakhstan has changed the state regulation principle for the grain market, a minister said.

Deputy Minister of Agriculture, Arman Yyevniyev, said the country will purchase grain for the state reserve instead of limiting exports, noting that the Food Corporation purchased 1 million tonnes of grain for the state reserve last year.

Yyevniyev said such practice would not be applied every year but it would depend on the world and domestic market situations.

The amendments are currently underway.

Kazakhstan's grain export potential based on last year's harvest is estimated at 6 million tonnes. Kazakhstan harvested 15.6 million tonnes of grain in net weight in 2008.