Export of Russian grain will not lead to lower prices in Kazakhstan

Wheat

Russia

Kazakhstan

Published Jul 2, 2022

Tridge summary

Yesterday, June 30, the ban on grain exports from Russia to the EAEU countries, introduced on March 15, expired. Traders of the Republic of Kazakhstan report the resumption of supplies from Russia. However, this grain will not be cheaper than Kazakhstani. Yevgeny Karabanov, the official expert representative of the Grain Union of Kazakhstan, told ElDala.kz about this. “Everyone is waiting for some kind of “cheap” grain. And why would it suddenly be cheap at such a ruble exchange rate? Nobody thought about it. And then the demand from Kazakhstan, of course, will whip up prices in Russia. There will be no cheap grain. I thought it would cost the same 180,000 tenge including VAT,” Yevgeny Karabanov said.

Original content

Yesterday, June 30, the ban on grain exports from Russia to the EAEU countries, introduced on March 15, expired. Traders of the Republic of Kazakhstan report the resumption of supplies from Russia. However, this grain will not be cheaper than Kazakhstani. Yevgeny Karabanov, the official representative-expert of the Grain Union of Kazakhstan, informed ElDala.kz about this. With the closure of the border in Kazakhstan, they were waiting for the resumption of imports of Russian wheat, cheaper at cost. But the sharp strengthening of the ruble against the tenge significantly increased the price of goods from the neighboring country. According to Yevgeny Karabanov, while maintaining the current exchange rate, the cost of imported wheat from the Russian Federation will be within 180 thousand tenge/ton including VAT. This is the same price that is currently prevailing in the domestic market of Kazakhstan. “Everyone is waiting for some kind of “cheap” grain. And why would it suddenly be ...

Source: Zol