Kazakhstan concludes deals worth $20mln to supply grain and oilseed crops to China, CA

Kazakhstan’s Food Corporation (Prodkorporatsiya) eyes greater support for small- and medium-sized farms, expansion of the export geography, Kazinform News Agency cites the press service of the Kazakh agriculture ministry.

The Corporation piloted the project to consolidate small grain batches to get domestic agricultural products into foreign markets. Under the project, six export deals worth 20 million US dollars to were reached to supply grain and oilseed crops to China and CA countries, with export proceeds going to agrarians and small traders.

In 2024, Kazakhstan enhanced the forward purchase program, with 324 agricultural enterprises supported. Funds were provided for growing sunflower, with the farmers agreed to send their harvest to processing plants, leading to below-market pricing. Purchases of rice and buckwheat are also planned.

Upon the President’s instruction, grain purchases stood at 10.5 billion tenge, with 52,000 tons shipped. Deals were signed to supply 613,000 tons of grain, of which 407,500 tons have already been delivered, to stabilize prices in the grain market in 2024.

The work was continued with Chinese corporations to expand exports, as agreements were signed with COFCO, Jiangsu SOHO and Citic Group to deliver grain and oilseed crops. Processing complexes are slated for construction in Kazakhstan with partners from China.

Kazakhstan’s Food Corporation is also to supply 30,000 tons of barley to Iran as well as suggested barley shipments to CA counties.

Earlier it was reported that Kazakhstan had expanded its markets for exporting grain.