06.01.2025, 13:40
🌾 Grain Prices in Kazakhstan Soar: What’s Next for the Market?
Grain prices in Kazakhstan, including wheat of grades 4 and 5 and barley, have risen sharply. Over the past month, the cost of these crops increased by 10-12%, according to the Grain Union of Kazakhstan.
As of January 4, the price for grade 4 wheat is 57-59 thousand tenge per ton, grade 5 wheat is 49-52 thousand tenge, and barley is 54-56 thousand tenge, including VAT. “These crops have seen a 10-12% price increase over the past month,” stated Evgeniy Karabanov, a representative of the Grain Union. Meanwhile, grade 3 wheat has not shown significant price growth. Depending on gluten content, prices range from 62-65 thousand tenge (23-24% gluten) to 95-105 thousand tenge (29% and above). The listed prices include VAT and depend on grain quality, supply volume, and other parameters, Karabanov clarified. He added that these are actual transaction prices, not market offers. Grain price growth is also observed on global markets. Russian media attribute this trend to reduced wheat exports from Russia and the European Union. Kazakhstani traders also predict further price increases. “Grain prices will continue to rise. Despite Kazakhstan opening imports of Russian grain from January 1, supply volumes from Russia will be limited due to reduced stocks and high prices. Grain reserves in Kazakhstan are also constrained,” commented trader Kairbek Zhalgapbayev. He noted that Russian imports will only partially compensate for the shortfall in Kazakhstan’s 2024 harvest. By March-April, grade 3 wheat could rise to 100-110 thousand tenge per ton, according to his forecast. “Currently, grade 3 wheat prices start at 60 thousand tenge, which is significantly lower than global prices. We expect prices to rise after Russia completes its export quotas in February-March. High-protein wheat (high-pro), which is in short supply this year due to weather conditions, may reach 120-125 thousand tenge and peak at 150 thousand tenge. Regular grade 3 wheat could increase to 85-90 thousand tenge. Barley prices are also expected to rise,” the trader added.
🔑 Key Highlights:
🔹 Rising grain prices in Kazakhstan:
Wheat of grades 4 and 5 and barley have increased in price by 10-12% in the last month. As of January 4, prices range from 49 to 59 thousand tenge per ton.
🔹 Limited stocks and global shortages:
Grain reserves in Kazakhstan and Russia are decreasing, driving prices up. Export restrictions from Russia and the EU also impact global market dynamics.
🔹 Further price growth forecasts:
Kazakhstan’s grain is expected to become more competitive internationally, with high-protein wheat potentially reaching 150 thousand tenge per ton.