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

Published 2024년 10월 23일

Tridge summary

Kazakhstan's wheat exports in the first eight months of 2024 fell by 39.2% compared to the same period in 2023, totaling 3.13 million tons, due to a low harvest and increased competition. However, the country plans to export 12 million tons of grain, including 7-7.5 million tons of wheat, to Central Asia and Afghanistan, as well as increase grain exports to China. There are challenges such as delays at the border and license issues that need to be addressed for the increase in grain supplies to China. Kazakhstan also aims to increase exports to European countries like Italy, Latvia, and Spain, but faces issues with transit through Russia and high transportation costs.

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Original content

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 ...

Source: UkrAgroConsult