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.