This year, the Food Corporation has doubled its funding for farmers under the forward purchase program in Kazakhstan

Published Jun 24, 2024

Tridge summary

In 2024, the Food Corporation of Kazakhstan has significantly increased its financial support for farmers through the forward purchase program, doubling last year's funding to 40 billion tenge. This move has been key in allowing agricultural producers to conduct necessary spring operations and has been particularly popular among farmers in the main grain-growing regions. The funding has enabled the purchase of seed wheat and the extension of farmers' obligations from 2023, totaling over 130 billion tenge in support for 2024. This strategic investment aims to boost the agricultural sector, foster growth, and ensure food security, with farm companies like Nord Agro 2030 LLP in North Kazakhstan benefiting greatly from the timely and preferential financial support.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Compared to last year, in 2024 the Food Corporation doubled its funding for farmers under the forward purchase program. This was reported by the press service of the Ministry of Agriculture of the Republic of Kazakhstan. To carry out spring field work, agricultural producers were allocated 40 billion tenge. The majority of applications for participation in the 2024 forward purchase program traditionally came from the main grain-growing regions, such as North Kazakhstan, Kostanay and Akmola regions. In total, 440 applications were approved. “An additional 200 thousand tons of food wheat worth more than 28 billion tenge were allocated as seed material. Farmers were able to purchase seeds with deferred payment until harvest. Farmers of Akmola, Kostanay and North Kazakhstan regions sent 31 applications for the purchase of 44.8 thousand tons of wheat with a total value of 6.4 billion tenge. This volume made it possible to ensure a sowing campaign on an area of about 400 thousand ...
Source: Agrosektor
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