The increased interest from China, Iran, and Central Asian countries has led to an increase in demand for barley, resulting in this feed grain now costing more than wheat.
According to information from Yevgeny Karabanov, head of the analytical committee of the Grain Union of Kazakhstan, last week the price of second-class barley on the domestic market reached 77-80 thousand tenge per ton including VAT.
Export prices for barley ranged from $180 to $185 per ton (DAP Saryagash) for Central Asia, from $187 to $192 per ton (DAP Altynkol and DAP Dostyk) for China, and from $210 to $215 per ton (FOB Aktau) for Iran.
At the same time, regular third-class wheat (gluten content 23-24%) on the domestic market cost between 73 and 76 thousand tenge per ton including VAT. The export price for this wheat ranged from $188 to $194 per ton (DAP Saryagash).
Feed wheat prices are also rising due to expensive barley: for fifth-class on the domestic market, prices range from 65 to 69 thousand tenge per ton, and for off-class wheat, prices range from 62 to 66 thousand tenge per ton.
Unsurprisingly, with the rise in grain prices, Kazakhstan has started purchasing wheat from Russia - the first batch of 980 tons was delivered from the Novosibirsk region after the import ban was lifted.
In Friday's trading, the March futures on the American exchange rose by 0.84%, reaching $5.9 per bushel ($216 per ton).