Monday11 November 2024
inbusinesskz.com

Kazakhstan has boosted its wheat exports to China.

The export volume to China has exceeded the figures from 2023 by 15 times.
Казахстан нарастил экспорт пшеницы в Китай.

Of this, 7-7.5 million tons are attributed to wheat, 1.4 million tons to barley, and 300 thousand tons to corn. The potential for oilseeds is estimated at over 1 million tons.

“Kazakhstan will continue to supply markets in Central Asia and Afghanistan, totaling around 4.2 million tons. Overall, grain exports to China reached 1.43 million tons in 2023, showing a 5.5-fold increase year-on-year,” said Torebaev.

He also noted that wheat exports to China have significantly increased, reaching 538.8 thousand tons in 2023, which is nearly 15 times higher than the previous year's figure.

“This demonstrates the potential to increase supplies to China and Asian countries up to 1.6 million tons of wheat. It is essential to address the issues of delays at the border due to the requirements of Chinese authorities, as well as the complex conditions such as licenses and quotas for importing Kazakh grain into China,” added Kairat Torebaev.

The Deputy Minister also highlighted that, amid rising global demand and declining harvests in several countries, the market of European Union countries, such as Italy, Latvia, and Spain, is of interest. The export potential to Turkey and the Middle Eastern countries is nearly 1 million tons of wheat.

“Restoring supplies to the Iranian market is crucial; we are currently observing dynamics in barley, and issues related to trade financing and logistics will be addressed. Efforts to promote the brand of Kazakh wheat in new markets, such as Pakistan, Indonesia, Brazil, and Malaysia, where an increase in imports is anticipated, will be intensified,” concluded Kairat Torebaev.