Kazakhstan: Forecasts for grain production in Kazakhstan are increased

In the new report of the International Grains Council, forecasts for the production of grain in Kazakhstan are 19.300.000 t, whereas in the previous report this figure was 1.400.000 t less. However, despite the increase in forecasts, this indicator is still less than last year’s by 100.000 t.

It should be recalled that in 2015/16 MY, 17.500.000 t of grain were harvested, while a year earlier the harvest was 13.000.000 t.

The amount of the initial reserves in the country is still 3.700.000 t, while in the previous year reserves were less by 500.000 t.

Grain exports figures in accordance with the report for February will be 8.100.000 t, while last year export supplies were higher.

Grain consumption is forecasted at 10.800.000 t, compared to 10.900.000 t last year.

In Kazakhstan, grain production is an important sector of the economy and is one of the three largest grain producers in the world. Updated forecasts from the International Grains Committee (IGC) show that Kazakhstan will have to increase grain production this year.

According to IGC, the forecast for grain production in Kazakhstan has been increased by 0.5 million tons and amounts to 18.5 million tons this year. This is due to the increase in sown areas and good weather conditions.

An increase in grain production in Kazakhstan could have a positive effect on the country’s economy, as grain is one of the main export commodities. An increase in production can lead to an increase in exports and an improvement in the trade balance.

However, it is important to note that in the face of growing competition in the global grain market, Kazakhstan needs to constantly improve the quality of its grain, as well as invest in infrastructure development and production modernization in order to maintain its position in the global market.

Thus, an increase in the forecast for grain production in Kazakhstan may be a positive development for the country’s economy, but to remain competitive in the global grain market, Kazakhstan needs to continue to improve the quality of its grain and develop infrastructure.