Kazakhstan: Carry-over stocks of wheat in the current MY will not exceed 2.5 million tons

Analysts reevaluated the amount of wheat stocks in Kazakhstan and lowered their forecasts. Thus, in the current marketing season, the volume of carry-over stocks is expected to be at a level of 2.5 million tons, whereas last year this figure was 4 million tons. Thus, we can observe a decline of 40%.

Experts explained that this situation was due to a lower wheat harvest in 2018, namely, at the level of 13.9 million tons, whereas a year earlier the harvest was 14.8 million tons.

Despite the fact that the harvest fell by almost 1 million tons, the export potential remained at the same level (5.5 million tons).

High demand from major importing countries, as well as rapidly declining stocks, is expected to keep the price of this crop high.