A stalemate has developed on the Kazakh grain market

Grains, Cereal & Legumes

Kazakhstan

Market & Price Trends

Published Mar 8, 2024

Tridge summary

Kazakh grain exporters are experiencing a market stalemate as traditional buyers like Uzbekistan, Tajikistan, and Afghanistan have significantly reduced demand, and the Chinese market remains difficult to penetrate due to low prices. This has led to speculation of a potential price drop. Meanwhile, A. Butyrkhanov criticizes the practice of withholding agricultural products such as sunflower and wheat in the Kostanay region, waiting for prices to rise, and emphasizes the importance of timely sales. His own company has been storing flax for two years, waiting for prices to increase.

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Original content

Kazakh exporters call the situation on the grain market stalemate. According to them, traditional buyers have significantly reduced demand. Uzbekistan, Tajikistan, Afghanistan take practically nothing. It is also difficult to “go” to China, and it does not give a good price. Almost all mills run on cheap Russian grain. Market participants are expecting a price reduction, reports the APK News agency. “In the Kostanay, Akmola, and North Kazakhstan regions, the price is still at the same positions as it was 10-15 days ago. But there is a premise that the price may fall. Because there is no demand. From our traditional markets - Uzbekistan, Tajikistan, Afghanistan - they take practically nothing at all, just a little bit of everything. There are a lot of offers for empty carriages. The cars are given away cheaply, as long as they don't stand still. There is no demand yet. Therefore, prices may fall unless there is some sudden unexpected jump,” Zeinolla Abdumanapov, Chairman of the ...

Source: Zol