The Grain Union of Kazakhstan published a weekly review of the grain market price situation in Kazakhstan from February 2 to 8. According to the APK News agency, grain price growth has stopped.
"Last week, grain and flax price growth generally stopped. The significant price increase that occurred the week before began to overheat the market. Added to this is the currency factor—the significant strengthening of the tenge. All this leads to a price imbalance in the domestic and foreign markets and is not conducive to trade," said Union representative Yevgeny Karabanov.
He also noted that agricultural producers are still holding back sales, expecting further price increases. However, many farmers face lease payment deadlines in February, and loan repayments under the Ken Dala and Ken Dala 2 programs in March. This will lead to increased supply of grain and oilseeds on the domestic market.
Over the past week, the price increase on the domestic market only affected grade 5 wheat, which is practically gone.
Prices for other wheat varieties, as well as barley, remained unchanged.
According to the Analytics Committee of the Grain Union of Kazakhstan, EXW elevator prices, in thousands of tenge/t, including 16% VAT, were as follows:
▪Wheat, class 3 (23-24% grade) - 92 - 96 (0)
▪Wheat, class 3 (25-26% grade) - 95 - 98 (0)
▪Wheat, class 3 (27% grade) - 109 - 113 (0)
▪Wheat, class 3 (28-29% grade) - 116 - 120 (0)
▪Wheat, class 3 (30+ grade) - 131 - 135 (0)
▪Wheat, class 4 - 89 - 93 (0)
▪Wheat, class 5 - 87 - 91 (+1)
▪Feed barley - 87 - 91 (0)
▪Flax seeds - 225 - 235 (0).