The Food Corporation received applications for 4.1 billion tenge from 33 agricultural enterprises as part of the forward purchase at the beginning of March. Taking into account the fact that the preliminary price for a ton of wheat is 70 thousand tenge, these funds assume the delivery of 59.2 thousand tons of grain in the fall. The press service of the Food Corporation reported this.
The start of accepting applications was announced two weeks ago, in mid-February. In total, 40 billion tenge was allocated from the republican budget for the forward purchase program for 2024.
Including 5 billion tenge is provided for the implementation of trilateral forward purchases. This is a new pilot mechanism for the purchase of raw materials between the Food Corporation, the agricultural enterprise and the processing enterprise. At the same time, the farmer will receive preferential financing and guaranteed sales, the processor will receive capacity utilization with raw materials at fixed prices, and the population will receive finished products at preferential prices.
This year, this program will be launched in pilot mode for the following crops - sunflower, rice, buckwheat. If successful, the program will be scaled.
Amount of advance payment for 2024 (including VAT) for different crops:
- soft wheat - 70,000 tenge/ton;
- durum wheat - 70,000 tenge/ton;
- barley - 40,000 tenge/ton;
- sunflower - 60,000 tenge/ton;
- oil flax seeds - 90,000 tenge/ton;
- rapeseed seeds - 90,000 tenge/ton.
The preliminary forward price is not final. In the fall, it will be adjusted by the Food Corporation, and farmers will receive an additional payment upon delivery of grain. Currently, the market value of baking wheat in Kazakhstan is from 107 thousand to 135 thousand tenge/ton, depending on the quality.