Kazakhstan, Astana, Aug. 26 / Trend A.Maratov /
Some 8 million tons of grain may remain unclaimed in Kazakhstan due to high yields, Food Contract Corporation Chairman Beybithan Kabdrakhmanov said at a press conference in Astana today.
"Due to expected high yield, Kazakhstan may have 8 million tons of unclaimed grain, which will "press" the market," Kabdrakhmanov said.
He said the company expects that the harvest will be above average - some 19 million tons in 2011, about 8 million of which is needed for domestic consumption.
Kabdrakhmanov said Kazakhstan traditionally exports about six million tons of grain. He said three million tons of grain was left at the elevators from the 2010 harvest.
"Given that some 8 million tons of grain will remain unclaimed, it was decided to subsidize exports. That is, the expenses of exporters, who will export grain through the territory of Russia and China, will be partly reimbursed - at the rate of 6,000 tenge per ton. This is just more than $40," he said.
He said this measure will have a positive impact on the Kazakh grain export.