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Kazakhstan to subsidize grain cost

Kazakhstan Materials 12 January 2022 11:02 (UTC +04:00)
Kazakhstan to subsidize grain cost

BAKU, Azerbaijan, Jan. 12

Trend:

Kazakhstan’s Agricultural Minister Yerbol Karashukeyev announced a number of measures regarding the development of the agro-industrial complex, Trend reports referring to his statement made at the government’s meeting.

"Following instruction of the country’s president, in order to stabilize prices for socially significant food products, within the framework of the National Project for the Development of the Agro-Industrial Complex until 2025, a set of measures for import substitution is envisaged," Karashukeyev said.

In particular, the ministry has already taken operational measures to:

- export no more than 125,000 tons of sunflower seeds and no more than 110,000 tons of sunflower oil until July 1, 2022;

- ban the export of potatoes and carrots for a period of three months;

- ban the export of cattle and small cattle for a period of six months.

"Besides, in order to stabilize the prices of bread, since January, subsidies will be introduced for the cost of grain sold by “Food Contract Corporation NC” JSC in the regions for the production of social bread (a variety of bread sold at a fixed lower cost),” the minister noted.

“The mechanism envisages reimbursement of the Food Contract Corporation's expenses when selling grain on the domestic market on a price below the market one," he concluded.

Earlier, Karashukeyev informed the work on providing livestock with fodder.

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