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Kazakhstan: Food Corporation completes procurement of wheat to reserve fund

“NC “Food Corporation” JSC completed the formation of a grain reserve fund of harvest 2019. The press service of the company announced on November 27.

According to the message, “in general, the company purchased about 350 thousand tons of wheat of the 3rd and 4th grades of the crop in 2019”.

It is also emphasized that the purchase prices established by the Food Corporation for wheat in the current year allowed “to ensure grain producers guaranteed sales of grain at a price that covers the cost of expenses in the difficult conditions of the current season, and to ensure the planned level of profitability”.

“The generated volumes of food grain will be used to provide for the needs of Kazakhstan flour mills in the spring and summer, which in case of need will support the prices of flour and bakery products on the domestic market”, the company concluded.