Kazakhstan's 2012 grain yield to fall by 36%

The wheat output of Kazakhstan is likely to drop by 36%, as estimated by the specialists of UN's Food and Agriculture Organization (FAO).

According to experts of the organization, the wheat harvest in Kazakhstan will be 14.5 million tonnes only, against 22.7 million tonnes in 2011. Winter crops planted areas in Kazakhstan saw rather extensive rainfall.

Last year, the good grain in Kazakhstan led to the significant reduction in the price of wheat on the world market. Thus, on the Chicago Mercantile Exchange the futures for wheat fell by 20% during recent 12 months.

In the current year, the poor harvest is likely to contribute to the stabilization of grain prices. The Agriculture Ministry expects that grain harvest will reach 15 million tonnes this year, down from record 27 million tonnes harvested last year.

The grain-planted area will reach 16 million ha which is comparable to last year's area. Grain exports for this year is expected at 13 million tonnes by Kazakhstan's Grain Union, and at 15 million tonnes by the Agriculture Ministry. So far, Kazakhstan has exported 7.8 million tonnes of grain in current marketing year.