The Kazakhstan Grain Union presented analytical data on the grain market for the period from November 24 to 30, 2025, according to APK News.
Domestic Market:
Prices on the domestic market remained unchanged last week.
Amid the continued strengthening of the tenge and problems with rail exports to the Saryagash MSSP, the market was waiting for restrictions to be lifted and loading to be permitted.
Foreign Exchange Market:
At its regular meeting on November 28, the National Bank of Kazakhstan maintained its refinancing rate at 18% per annum. It also noted that the regulator does not intend to ease monetary measures in the first half of next year.
Last week, especially following the National Bank's announcement on November 28, the tenge continued to strengthen against all currencies. The tenge increased significantly against the US dollar by 1.18% over the week.
ETS Exchange:
Last week, two wheat sales transactions totaling 10,920 tonnes were recorded on the ETS Exchange:
▪ On EXW terms - linear elevator, including 12% VAT, 10,500 tonnes of Class 3 wheat (Class 27) were sold at 125,000 tenge/tonne;
▪ For export without VAT, on DAP Saryagash terms, 420 tonnes of Class 5 wheat were sold at 98,356 tenge/tonne (~191 USD/tonne).
Also offered on EXW terms - linear elevator, including 12% VAT, were the following wheat:
▪ Class 3 wheat (Class 25%) at 105,000 tenge/tonne;
▪ Class 3 wheat (Class 27) at 129,000 tenge/tonne;
▪Class 3 with 30% Class at 131,000 tenge/t;
▪Class 4 at 84,000 tenge/t.
However, transactions for these lots did not take place.
Export:
The main news of the week is that by the end of the month, JSC NC KTZ partially permitted the processing of loaded railcars in the direction of SAZ via the Saryagash intermodal station. However, the difficult situation related to the excess availability of railcars and abandoned trains remains, both in the direction of SAZ and in the direction of China.
According to KTZ, the main plans for December have been agreed upon in accordance with the technical capabilities of the UTY infrastructure. Freight in the direction of SAZ via the Saryagash intermodal station will be accepted in accordance with daily technological standards and taking into account the capacity of the access tracks at the destination stations.
This issue was discussed last week by deputies in the Majilis of the Parliament of the Republic of Kazakhstan. The deputies believe it is necessary to
introduce stable rules for freight prioritization and ensure non-discriminatory access for Kazakhstani carriers to capacity, ensure transparency in the distribution of rolling stock and technological delays through mandatory data disclosure,
balance the responsibilities of the parties, preventing the transfer of the consequences of technological violations to businesses. created by the operator,
digitize transport flows and synchronize infrastructure and logistics operations, including monitoring border hubs, and implement digital tools for forecasting and monitoring loads to prevent critical accumulations of railcars.
"Our faction has already prepared a package of amendments aimed at eliminating legal uncertainty in the industry law 'On Railway Transport' and increasing the operator's liability for disrupted deliveries," stated MP Yulia Kuchinskaya.
Wheat export prices remained unchanged last week. This was due to restrictions on grain loading to Central Asian countries.
Barley export prices, after rising the week before, remained unchanged.
Subsidies:
According to the press service of the Prime Minister of the Republic of Kazakhstan, the Government has allocated 7 billion tenge to support grain exports. The funds will be used to fully cover the state's obligations under the current program to subsidize transportation costs.
This year, 31 billion tenge of the total amount allocated to subsidize transportation costs has already been allocated. Government reserves. These funds enabled Kazakhstani products to enter new export destinations, restore supplies to previously lost markets, and increase export volumes to non-CIS countries via alternative logistics routes. As a result of these measures, shipments to new and restored markets exceeded 2.5 million tons.
Previously, a decision was made to extend the transportation cost subsidy program until 2026, with corresponding funding of at least 30 billion tenge.
Flaxseed:
The domestic price followed the previous week's trend and decreased by 5,000 tenge/ton. This was due to ample supply and the strengthening of the tenge against the US dollar, Chinese yuan, and euro.
The export price on FCA Kazakhstan terms decreased by 5 USD/ton to 505-510 USD/ton.
The price of Kazakhstani flax on C&F ARAG terms remained unchanged over the past week and remained at 630 USD/ton, with delivery In December/January.
The price of Kazakh brown flax (97% purity) on DAP Poland terms fell by EUR 5 per ton, to EUR 515-520 per ton.
Flax prices on the Chinese market remained unchanged:
▪ Domestic prices in China up to CNY 4,850-4,900 per ton (USD 685-692 per ton);
▪ C&F Tianjin port up to CNY 3,850-3,900 per ton (USD 544-551 per ton).
CNY/USD = 0.1413.
Summary:
Wheat demand remains constrained by rail capacity, leading to grain and flour shortages in traditional markets.
Iranian barley demand continues to support domestic prices.
Flax prices are under pressure due to large harvests in Kazakhstan and Russia, resulting in ample supply.
Prices:
According to the Analytical Committee of the Grain Union of Kazakhstan, EXW prices - elevator, in thousand tenge/t, including 12% VAT:
▪Wheat, class 3 (class 23-24%) - 85 - 89 (0)
▪Wheat, class 3 (class 25-26%) - 90 - 94 (0)
▪Wheat, class 3 (class 27%) - 111 - 115 (0)
▪Wheat, class 3 (class 28-29%) - 120 - 125 (0)
▪Wheat, class 3 (class 30+) - 135 - 138 (0)
▪Wheat, class 4 - 76 - 80 (0)
▪Wheat, class 5 - 70 - 74 (0)
▪Feed barley - 75 - 80 (0)
▪Flaxseed - 215 - 225 (-5)
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National Bank of the Republic of Kazakhstan exchange rates:
512.53 tenge/$ (-6.13)
6.53 tenge/₽ (-0.03)
592.43 tenge/€ (-5.01)
72.44 tenge/¥ (-0.50)
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Export prices, USD/ton:
▪Wheat 3rd cl (23-24% cl) - 215 - 220 DAP Saryagash (0)
▪Wheat 3rd cl (cl-at 25-26%) - 220 - 225 DAP Saryagash (0)
▪Wheat 3 Cl (27% class) - 260 - 265 DAP Saryagash (0)
▪Wheat 3 Kl (28-29% kL) - 280 - 285 DAP Saryagash (0)
▪Wheat 3 Cl (cl. 30+) - 293-298 (0)
▪Wheat 4 class - 200 - 205 DAP Saryagash (0)
▪Wheat 5 class - 193 - 197 DAP Saryagash (0)
▪Barley - 180 - 185 - DAP Saryagash (0)
▪Barley - 210 - 215 FOB - Aktau (0)
▪Barley - 190 - 195 DAP Dostyk/Altynkol (0)
▪Flaxseed - 505 - 510 FCA - departure station (-5)
Wheat flour, delivery terms DAP Saryagash, USD/t:
▪Kazakhstan flour (Atta - Afghan milling) - 240 - 245 (0)
▪Flour 1 t - 290 - 300 (0)
▪Premium flour - 393 - 398 (0)
Feed meal, delivery terms DAP Alashankou / Khorgos, USD/t:
▪Protein 10-11% - 215-220 (0)
▪Protein 11-12% - 220-225 (0)
▪Protein 12-13% - 225-230 (0).