Kazakhstani wheat exports down 40% due to competition in the markets

In eight months of 2024, Kazakhstan exported 3.13 million tons of wheat, down 39.2% from 5.15 million tons in the same period last year, Vice Minister of Trade and Integration Kairat Torebayev said at a government meeting. According to him, the decline in wheat exports is due to the low harvest last year, as well as increased competition in Kazakhstan’s traditional markets. For example, Italy, Turkmenistan, Afghanistan and Russia have significantly reduced their consumption of Kazakh wheat. This is because other grain suppliers have begun to reduce export prices, which has led to the displacement of Kazakh products. As for the next food season, the countries of Europe, South Africa and Ukraine have reduced wheat production due to bad weather conditions. Russia also announced that in 2024-2025 it will export 53 million tons of wheat, which is 10.1% lower than the previous season. In the new season, Kazakhstan plans to export 12 million tons of grain, of which wheat will account for ...