December 21, 2011

Kazakhstan's grain prices become stable

Kazakhstan's export market of grains faced stabilisation of bid prices for milling wheat, according to the information provided by experts of APK-Inform Agency.

Thus, the offer price of traders on the border-crossing of Saryagash varies within the range of US$153-157 per tonne. At the same time, in late December, traders expect for increasing of prices for the grain. According to market participants, the increase is justified due to the limited number of offers of high-quality wheat.

As a reminder, in 2011/12 marketing year agrarians of Kazakhstan harvested the record grain harvest, but due to unfavourable weather conditions during the harvesting campaign, large-scale volumes of wheat do not meet to State Standards requirements. Besides, it is worth noting that in the beginning of the season the offer prices for milling wheat were declared within the range of US$190-210 per tonne of DAP.