Political instability in Kazakhstan could lead to rising wheat prices
Wheat
Kazakhstan
Published Jan 14, 2022
Tridge summary
This was reported by ukragroconsult.com. "Kazakhstan is one of the ten main exporters of wheat and is the second largest exporter of flour on the world market. As a supplier, Kazakhstan has the lion's share in the grain market of Central Asia (Uzbekistan, Afghanistan, Tajikistan, Turkmenistan, etc.), "the statement reads. Thus, the current political events in Kazakhstan have caused disruptions in the Internet and the suspension of banks in major cities.
Original content
As a result, foreign exchange transactions that require prepayment may be delayed in the near future, which may slow down the activity of grain trade in the Central Asian market. "The government is likely to try to control the domestic prices of socially significant goods to avoid shortages and high demand. Against the background of the failed own grain harvest in Kazakhstan in 2021, wheat imports from Russia, according to some estimates, could reach 4 million tons, but in conditions of instability, this figure may increase even more, "- say experts. On the other hand, the current situation will have a negative impact on the economic situation in Kazakhstan, which may lead to the devaluation of the domestic currency. The devaluation of the ...
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