KazAgro Holding to purchase 3 mln tons of grain
ASTANA. August 21. KAZINFORM The beginning of the current marketing year (as of July, 1, 2009 to August, 31, 2010) is marked by expected increase of grain production in the internal market of Kazakhstan as well as decline of world prices and demand for grain; the press-service of KazAgro said. Such conditions can be followed by price fall and damping at the internal market as well as decline of financial status of the agro-industrial corporations, deficit, rapid price appreciation for grain, flour and bakery products. In this connection at the session of the State Committee on Economy Stabilization it was decided to purchase 3 mln tons of the 3rd class grain (KZT 24 750 or USD 165) by KazAgro Holding. Fixation of such price will let national agricultural goods producers keep level of income as well as raise effectiveness of the state regulation on grain export without introduction of restrictive measures. The terms and parameters of the procurement will be announced later.