Demand for substandard wheat reported in Kazakhstan

Published 2024년 9월 24일

Tridge summary

Kazakhstan's grain market is experiencing a price setup by the Food Corporation, with experts suggesting that grade 3 wheat is expected to increase in price and recommend holding onto it. However, lower classes of wheat and barley are not expected to rise in price and may be sold. Durum is also recommended to hold onto, expecting prices to rise. The market's reaction to the Food Corporation's prices is unclear due to trade focusing on the general market. Demand for non-class wheat is present, with prices forming from 43 thousand tenge. So far, farmers have harvested approximately 70% of the area, yielding over 17 million tons of grain crops, with a predicted harvest of 20 million tons this season.

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

Original content

Kazakhstan analysts presented another weekly review of the situation on the grain market. It is reported that the market has not yet had time to react to the price set by the Food Corporation, which was called quite high. At the same time, experts recommend holding on to grade 3 wheat, since they expect its price to rise. They also note an increased demand for non-grade wheat, the APK News agency reports. According to the research bureau "Grain and Oilseeds. Kazakhstan", over the week, grade 3 wheat with gluten 28+ decreased by 3 thousand tenge per ton, amounting to an average of 108 thousand tenge with VAT from the elevator as of September 23. Wheat with gluten 25 and 23 has not changed in price over the past 7 days, its price is 87 thousand tenge and 80 thousand tenge, respectively. Analysts recommend not to rush to sell grain of this category, suspending trade until more favorable prices are expected. Wheat of the 4th class is traded at 72 thousand tenge per ton, its ...

Source: Zol