The Government of Kazakhstan has ordered urgent measures to regulate prices on the domestic grain market

Published Aug 15, 2024

Tridge summary

The average price index for social food products in Kazakhstan remained unchanged over the past year, with a slight decrease of 0.1% over the past week, as reported by Deputy Prime Minister Serik Zhumangarin. This stability is attributed to the impact of seasonality and government interventions. Prices for various food items such as carrots, potatoes, chicken eggs, rice, sugar, kefir, buckwheat, first-grade bread and flour, and beef have seen a decline, while sunflower oil, salt, and butter have become more expensive. The government is taking measures to ensure a sufficient supply of vegetables for the off-season and is considering negotiations with China regarding wheat imports.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Seasonality and Government Measures Are the Main Factors in Reducing Prices for Social Food Products Over the past week, the average price index for social food products decreased by 0.1%, zeroing out the annual growth rate. Such data were announced at a meeting on stabilizing prices for socially significant food products (SSP) chaired by Deputy Prime Minister Serik Zhumangarin. This was reported by the Agrosektor.kz portal with reference to the government press service. As stated, despite the influence of market factors, it was possible to keep the growth of prices for SSP at zero. “Seasonality and weekly government meetings with regions, where the reasons for even the minimal price increase for each of the 19 types of food products are analyzed in detail with the adoption of prompt and systemic measures,” the press service quotes the main conclusion announced at the meeting. According to First Vice Minister of Trade and Integration Aizhan Bizhanova, over the past week, carrot ...
Source: Agrosektor
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