September 23, 2010

Kazakhstan's grain prices to stabilise soon

Grain prices in Kazakhstan are expected to stabilise soon, and the market will not face continued price increases, Eugene Aman, executive secretary of the Ministry of Agriculture announced.

According to Aman, Russian traders have left the Kazakhstan market. Russian railway lines have lowered tariffs for grain shipments, and Russian regions experiencing a grain deficit will receive their required volumes of grain from Krasnodar Krai.

According to the official, in August 2010, the export potential for the country's grain was nearly 720,000 tonnes, and average monthly grain exports from Kazakhstan will now total nearly 700,000-800,000 tonnes.

Thus, Kazakhstan's export potential will vary from seven to eight million tonnes of grain, which is why, grain prices will not continue growing in the near future, he explained, according to local news.