Kazakhstan raises grain harvest forecast to 18.5mn tonnes.

By bne IntelliNews September 24, 2013

Grain harvest forecast was increased to 18.5mn tonnes from previous 16.3mn tonnes, the Agriculture Ministry has stated. The country already gathered 14mn tonnes of grain from 11.19mn ha or 71% of the toal sown area, according to the ministry. The yield reached 1.25 tonnes from 1 hectare, up from last year’s yield below 1 tonne. Higher harvest prompted the Agriculture Ministry to revise upward exports forecast to 9-9.5mn tonnes from previous 7-8mn tonnes.

Kazakhstan harvested 12.9mn tonnes of grain last year, down from record 27mn tonnes in 2011. The main reason for lower harves in 2012 was drought. The country exports grain to the neigbouring countries, the Caucasus, Iran and to China.

Kazakhstan is among top 10 exporters of grain in the world. Better harvest means that no interventions to keep bread prices at the low level are needed. This also suggest that inflation pressure shall weaken.

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