Single grain holding created in Kazakhstan

BAKU. June 26. KAZINFORM Kazakh National 'Food Contract Corporation' and the National Association 'Union of Kazakhstan's Farmers' signed an agreement on the creation of a single grain holding. The agreement was signed in KazAgro National Holding, Novosti-Kazakhstan reported with the reference to KazAgro.

Kazakh President Nursultan Nazarbayev ordered to establish a single grain holding during his appeal to the nation on January 27, 2012, as well as at the expanded government meeting on January 23, 2013.

The Single Grain Holding was created on the principles of free association of grain market participants on equal terms. Meanwhile they maintain the legal and economic independence to achieve the following purposes: increasing access to sowing and harvesting campaign financing, guaranteed sale of grain in spring and autumn period at the market price, grain sale and the subsequent distribution among grain producers, the creation and development of the grain storage and export infrastructure.

The agreement creates a legal basis for the involvement of grain producers into the holding. A Public Council on the grain market was created to represent the interests of the participants of the holding, Kazinform refers to trend.az.

The participants of the new holding should consult with the Public Council on the volume and price of purchased and sold grain, as well as on the amount and time of grain distributions among the producers.