The cost of Kazakh Wheat for the Central Asian markets are currently at 290-300 depending on quality US-Dollar (DAP Saryagash) per Tonne sunk. A month ago the price range was $315-325.
The reason is both the decrease in the tenge (from 460 to 470 tenge for $1) and the drop in prices on the domestic market due to shipping problems and the pressure of the cheaper Russian grain. The price of wheat in the northern regions of Kazakhstan is currently about 115 thousand tenge/ton (incl. Accordingly, farms sell it at a price of about 100 thousand tenge, and the Russian one Grains also comes underneath.
The peak of prices fell in June, when the Kazakh Wheat was delivered for export at $420-425 per ton. The price of wheat on the domestic market at that time was about 180 thousand tenge/ton and increased by a third compared to the beginning of the year (from 120 thousand tenge/ton) due to the suspension of deliveries from Russia.
Note that global wheat prices are also under pressure. March futures trading on the US exchange closed last week at $7,5 per Scheffel. In March this year, the price rose to $13,5 due to the closure of Ukraine's ports.
Meanwhile, export duties on Russian wheat will increase by 21% from December 6, from 3 thousand 143,4 to 3 thousand 333,8 Rubel per ton. The indicative price was $314,4 per tonne, up from $313,4 a week earlier.
Source: Eldala (Kazakhstan)