Grain trade suspended in Kazakhstan

Grain market participants are suspending grain trading in Kazakhstan. Farmers - because of the rising prices on the market. Traders - because "peasants have started to raise prices." Importers - against the backdrop of information about a reduction in the transit tariff and the expectation of a low price. Traders say that an unclear situation is taking place on the market, the APK News agency reports. As reported, in January, wheat prices began to rise slightly in Kazakhstan. However, there were no factors for this on the market. Nevertheless, participants responded to this fact with some calm. "Why did prices rise in Kazakhstan? There are no fundamental factors for the price increase. The only factor was the depreciation of the tenge against the dollar. The dollar strengthened, the tenge weakened, and this accordingly affected the export price. Due to this, the price of wheat on the domestic market rose," said Zeinolla Abdumanapov, Chairman of the Board of the National ...