Kazakhstan: Updated forecasts from IGC

According to the data provided in the March reports from the IGC, the production of cereals in the next marketing year will be 17.8 million tons, while this year the production of cereals is expected to reach 19.3 million tons.

The number of initial reserves in the coming year is forecasted at 4.1 million tons, while in the current marketing year this figure was 3.7 million tons.

Imports of grain reached 0.1 million tons, and it will remain at the level of the previous seasons.

Grain exports in the next marketing year are expected at 8.2 million tons, which is slightly higher than the figure for the current marketing year.

The level of grain consumption in the next marketing year is estimated at slightly more than 10 million tons, which is 0.6 million tons less than the figure of the current marketing year.

The International Grains Council (IGC) has published its updated forecasts for the harvest of grain crops in Kazakhstan. According to the data, this year Kazakhstan is expected to produce 16.5 million tons of grain, which is slightly higher than the forecast presented in March, which was 16.3 million tons.

The forecast for wheat production was also increased to 14.7 million tons from the previous forecast of 14.5 million tons. The forecast for the barley harvest remained unchanged at 3.4 million tons.

According to the IGC, Kazakhstan is one of the largest producers and exporters of grain crops in the world. It is expected that Kazakhstan will continue to export significant amounts of grain this year, given the growing demand for grain on world markets.

Thus, the updated forecasts from the IGC confirm the growing role of Kazakhstan in the world market of grain crops. This may have an impact on grain prices and export opportunities for the country. Similar data can be useful for market analysis and decision-making on investing in the grain industry of Kazakhstan.