BAKU, Azerbaijan, February 7. Kazakhstan will allocate subsidies around 13.8 billion Kazakh tenge ($30.1 million) to sustain the price level of bread, Trend reports, citing Kazakh media.
Speaking at a government meeting, the Minister of Agriculture, Yerbol Karashukeyev, said that the annual demand for cheaper wheat in 2023 will amount to 308,000 tons.
He added that subsidies worth 45,000 Kazakh tenge ($98.16) are necessary per each ton of wheat.
“These measures will allow supplying the flour mills of the regions with wheat at a fixed price of 90,000 Kazakh tenge and produce bread at current affordable prices,” Karashukeyev noted.
The matter of developing the agriculture sector became one of the key priorities for the Kazakh government. By assisting the development of the sector, Kazakhstan looks to guarantee the food security of the country, in addition to curbing the negative impact of inflation on food prices.
Kazakh population suffers from increasing food products prices, due to high inflation. Earlier, the Bureau of National Statistics revealed that the food prices change by 0.4 percent in a single week during January, which was the largest increase since April 2022.
The price for a loaf of bread amounts to 80 Kazakh tenge, subject to its availability.