Kazakh wheat exports continued expanding in October. Kazakhstan exported 452.8 KMT of wheat in the second month of the season, up by 40% YoY.
In the first two months of 2016/2017, Kazakhstan exported 38.7% more wheat YoY (808 KMT), which is a three-year high.
The share of Kazakh wheat’s key export destinations – Uzbekistan, Tajikistan, Afghanistan – expanded to almost 90% in the first months of the season (from 74% in 2015/2016). Additionally, Kazakh exporters continue active wheat deliveries to China: as much as 26 KMT went there for the two months against 7.4 KMT in September/October 2015.
EU countries revived wheat imports from Kazakhstan earlier than usual, this concerns mostly Italy.
In October purchases of Kazakh wheat by Italians hit a decade high at 34.3 KMT. Last time that significant amount of Kazakh wheat was exported to this market back in December 2007 (48.1 KMT).
Analysts expect Kazakhstan to further boost wheat supplies to the EU market this season thanks to a greater need of the European Union specifically for high-protein wheat in 2016/2017. (UkrAgroConsult/Business World Magazine)