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Kazakhstan wheat is no longer in demand

Kazakhstan wheat is no longer in demand

Kazakhstan wheat is no longer in demand

The demand for wheat in the foreign markets during the eight months of the 2017/18 marketing year decreased. So during this time, 2.4 million tons of wheat were exported, which is 10.1% less than exports volume in the same period of the previous marketing year.

In money equivalent, exports volume fell by 10.4% or $381.9 million dollars. This is the smallest amount received for the export of wheat over the past 5 years. The lowest amount was received only in 2011, when for eight months the export of wheat brought in only $227.9 million.

Over the past five years, the tendency of the decrease in the funds raised from wheat exports has been noted. Therefore, in 2012 Kazakhstan, wheat was in great demand, which enabled to raise more than $1.2 billion, but in 2013, the amount received from wheat export decreased by 41%, and in 2015, we observed a decrease by 35%.

Analysts say that the decrease in price is observed all over the world and despite a slight decrease in wheat production, the overall supply in the world may even increase due to the growth of stocks.

Kazakhstan is a major producer and exporter of wheat, but demand for Kazakh wheat has been declining in recent years. This is due to a number of factors, such as increased competition in the global market, changing taste preferences of buyers, and increased wheat production in other countries.

Despite the decline in demand, experts are confident that Kazakh wheat has prospects in the market. First, Kazakhstan continues to improve its technology and product quality, which can attract new customers. Second, the production of wheat-based products, such as pasta and bread, is developing, which could increase domestic consumption of wheat.

Moreover, some analysts believe that in the near future the demand for Kazakh wheat may increase due to changing climatic conditions, which will lead to a decrease in yields in other competing countries.

Thus, although demand for Kazakh wheat is currently declining, it has prospects for the future. Advances in technology and the production of wheat-based products can help increase its competitiveness in the global market, and changes in climatic conditions can lead to an increase in demand.