Corn prices fell in Kazakhstan due to high harvest

Published Sep 30, 2024

Tridge summary

Farmers in Kazakhstan's Zhetysu region have started harvesting corn, expecting to reap over 1 million tons, but low market prices are making it unprofitable for them. Despite reducing the sowing area after last year's oversupply issues, the current price is still below production costs, leading to thoughts about not sowing next season unless subsidies increase. The area for corn sowing has expanded from 150 thousand hectares in 2018 to 161 thousand hectares this year. Kazakhstan primarily exports corn to Tajikistan and Uzbekistan, but the market is currently oversaturated due to both domestic oversupply and imported corn, further driving down prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Farmers in the Zhetysu region have begun harvesting corn. They are expected to collect a good volume - over 1 million tons. After last year's problems, when it was impossible to sell corn, producers reduced the area under sowing. However, this year, problems are brewing on the market. The price of corn has dropped to minimum values. Farmers say that they will not be able to even "break even", the APK News agency reports. Compared to last season, this year, no difficulties with the sale of corn are expected, local authorities said. However, agricultural producers say that the factories that accept raw materials have such a low price that sowing and selling corn has become completely unprofitable. The starch plant in Zhetysu gives 55-60 tenge for 1 kg of corn. Remembering the situation last year, when it was impossible to sell corn due to overstocking of factories, this season they are ready to accept raw materials. However, the price set by processors does not suit agricultural ...

Source: Zol