Kazakhstan Imposes a Ban on Wheat Imports Until the End of 2024  

 

In the first half of 2024, Kazakhstan imported 1.3 million tons of wheat, a volume nearly equivalent to the total annual import for 2023. However, despite the significant volume of imports, the domestic market still holds sufficient reserves of last year's wheat harvest.

 

As of July 1, 2024, Kazakhstan had approximately 6.1 million tons of grain in storage, including 5.1 million tons of wheat.

 

Thanks to favorable weather conditions and timely agricultural measures, a high grain harvest is expected this year. This, combined with carryover stocks, could lead to an oversupply in the grain market, potentially causing a market imbalance between supply and demand.

 

To prevent re-export and protect the domestic market from an oversupply, the Interdepartmental Commission on Foreign Trade Policy decided on July 26, 2024, to impose a ban on wheat imports into Kazakhstan. The ban applies to all modes of transport and affects both countries of the Eurasian Economic Union (EAEU) and third countries. Exceptions are made only for the transit of wheat through Kazakhstan and the movement of grain between EAEU member states through Kazakhstan.

 

The order of the Minister of Agriculture of the Republic of Kazakhstan No. 278, approved on August 19, 2024, will come into force on August 21 and will remain in effect until December 31, 2024.

 

This measure aims to stabilize the domestic grain market and prevent potential economic risks associated with an oversupply of wheat.