Forward Purchase-2024: Food Corporation of the Republic of Kazakhstan set purchase prices for 3rd class wheat

JSC NC Food Corporation has initiated the acceptance of agricultural products for the 2024 harvest under its forward purchase program, aiming to ensure food security and support agricultural producers. The corporation has set purchase prices for wheat, ranging from 100,000 to 85,000 tenge with VAT depending on the gluten content. Agricultural products can be dropped off at licensed grain receiving enterprises for the advance payment. The positive assessment of the 2024 harvest, coupled with increased funding for agricultural technologies, has allowed the corporation to set these prices. There is also growing interest in the supply of Kazakhstani grain to foreign markets.

In order to ensure food security and support agricultural producers, JSC NC Food Corporation has begun accepting agricultural products of the 2024 harvest under the forward purchase program. As reported by the press service of the Food Corporation, the following purchase prices have been set for wheat: • 3rd class wheat (gluten from 27%) — 100,000 tenge with VAT; • 3rd class wheat (gluten from 25%) — 90,000 tenge with VAT; • 3rd class wheat (gluten from 23%) — 85,000 tenge with VAT. It is noted that agricultural products are accepted for the amount of advance payment at licensed grain receiving enterprises that were determined by the Food Corporation. "The favorable assessment of the 2024 harvest, including the quality indicators of grain, enables JSC NC Food Contract Corporation to offer the indicated prices. The projected volume and quality of the harvest were obtained due to an increase in the level of compliance with agricultural technologies, for which a record amount of ...