The grain market in Kazakhstan is uncertain due to a number of factors. In addition to the new Tax Code and exchange rate fluctuations, there's also the hype surrounding the ban on Russian grain imports. The Grain Union of Kazakhstan presented a weekly review of the grain market price situation in Kazakhstan from March 23 to 29, according to APK News.
"Despite the long holidays and weekends last week, the market was shaken by the letter dated March 21, 2026, from the State Inspectorate Committee for Agriculture of the Ministry of Agriculture of the Republic of Kazakhstan, which imposed a ban on the import of certain grain crops, processed products used in animal feed, and prepared animal feed. According to the listed HS codes, the restrictions apply to all wheat, including seed wheat, barley, oats, rye, soybeans, bran, beet meal, cakes, and other plant materials and mixtures thereof used in the preparation of animal feed. Later, a letter dated March 25, 2026, rescinded the previous letter dated March 21, 2026, and clarified the restrictions in accordance with letters from the Committee for Veterinary Control and Supervision of the Ministry of Agriculture of the Republic of Kazakhstan dated February 19, 2026, and February 24, 2026, which specified the ban on the import of feed grain crops, bran, and feed from Russia. The restrictions are being introduced due to the worsening epizootic situation in the border regions of the Russian Federation. Until the second letter from the Committee for State Inspection of Veterinary Control and Supervision was issued, this caused considerable confusion for importers and their counterparties. "On March 27, Kazakhstan Temir Zholy issued a corresponding telegram," said Yevgeny Karabanov, head of the Kazakhstan Grain Union's Analytics Committee.
He also noted that the domestic market remains unstable, with uncertainty related to both the requirements of the new Tax Code regarding VAT refunds for agricultural exporters and exchange rate fluctuations.
Last week, prices for some wheat crops increased slightly: Class 3 wheat with gluten grades 23-24 and 25-26, as well as Class 4 and 5 wheat, increased by 1,000 tenge.
This was due to strong demand from processors and poultry farms, including due to restrictions on the import of feed wheat from Russia.
Prices for other grain crops remained unchanged.
The tenge traded mixed on the foreign exchange market last week: it strengthened against the yuan and the euro, weakening slightly against the dollar and the ruble. At the close of trading, the tenge weakened 0.04% against the US dollar over the week.
"The market is still seeking a balance between the interests of agricultural producers, exporters, and importers, and activity is low. The letter from the State Inspectorate Committee of the Ministry of Agriculture of the Republic of Kazakhstan banning the import of certain grains and feed from Russia added to the uncertainty. Low margins and a strong tenge are holding back further price increases for grains and oilseeds," the Union expert concluded.
According to the Analytics Committee of the Grain Union of Kazakhstan, EXW elevator prices, in thousands of tenge/t, including 16% VAT:
▪Wheat, Class 3 (gluten 23-24%) - 92-95 (+1)
▪Wheat, Class 3 (gluten 25-26%) - 94-97 (+1)
▪Wheat, Class 3 (gluten 27%) - 104-108 (0)
▪Wheat, Class 3 (gluten 28-29%) - 110-114 (0)
▪Wheat, Class 3 (gluten 30+) - 123-127 (0)
▪Wheat, Class 4 - 91-93 (+1)
▪Wheat, Class 5 - 89 91 (+1)
▪Feed barley - 86 - 90 (0)
▪Flaxseed - 230 - 240 (0)
National Bank of Kazakhstan exchange rates:
482.53 tenge/$ (+0.20)
5.92 tenge/₽ (+0.18)
555.44 tenge/€ (-2.13)
69.83 tenge/¥ (-0.22)