🌾 Kazakhstan Proposes to Introduce Agricultural Receipts as a New Agribusiness Tool  

 🔹 Agricultural receipts could become a new financial instrument in Kazakhstan, expanding opportunities in the agricultural sector, similar to grain receipts.

 🔹 The introduction of blockchain technology and the creation of a unified registry have made grain receipts a reliable digital asset, minimizing risks and increasing trust among market participants.

 🔹 The implementation of agricultural receipts will broaden the user base and attract additional investments into the agricultural sector through banks and other financial institutions.

 

At the Eurasian Economic Forum in Yerevan, the possibility of introducing agricultural receipts in Kazakhstan, similar to grain receipts, was discussed. The initiative was presented by the Information and Accounting Center (IAC) and aims to expand the use of financial instruments for agricultural products.

 Electronic grain receipts have been successfully operating since 2016, with about 200,000 grain transactions annually, amounting to over $8 billion. During this time, more than 66 million tons of grain have been registered in the system. The use of blockchain technology ensures data protection, making grain receipts a secure digital asset, which significantly reduces the risk of fraud and increases market participants' confidence.

 The automation of grain accounting, the creation of a unified registry of receipt holders, and the optimization of reporting for grain-receiving enterprises have improved the system's efficiency. In addition, measures were introduced to minimize the risk of non-fulfillment of obligations by the parties, made possible through the use of the "delivery versus payment" model.

 The IAC proposes to introduce a similar system for agricultural receipts, which could be backed not only by grain but also by other types of agricultural products. This would significantly expand the number of system users and create opportunities for attracting investments in the agricultural sector through financial institutions, such as banks.

 Additionally, the system is already capable of monitoring farm resources, including credit history, taxes, land, and yield data, which simplifies the decision-making process. However, the introduction of agricultural receipts in Kazakhstan will require political support and approval at the state level.

 This step could become an important element in the digitalization of Kazakhstan's agricultural sector and an example of successful Eurasian integration, creating additional opportunities to improve the efficiency of the agro-industrial complex and attract new financial flows into the sector.