Severe Contraction in Kazakhstan’s Wheat Exports

CEIC Macro Watch: For the first five months of 2013, Kazakhstan’s wheat exports contracted significantly to 1.65 million metric tons, a 62% decline compared to the same period of 2012 when 4.30 million metric tons were shipped abroad. The severe contraction in the volume of wheat exports corresponded with a substantial decline in the overall value of grain exported. The value of the grain exports almost halved on a year-to-date basis to USD 464.2 million by the end of May 2013, down from USD 865.5 million for the period January-May 2012. The dramatic downturn in Kazakhstan’s wheat exports this year can be explained by the bumper harvest in 2011 when the Central Asian economy registered record wheat crop production of 22.7 million metric tons, which led to booming exports in 2012. This year’s downturn is a direct consequence of the poor crop yield in 2012, evoked by unfavorable weather conditions that also led to higher wheat prices. Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. By Kamen Parushev - CEIC Analyst Back to Blog
4th September 2013 Severe Contraction in Kazakhstan’s Wheat Exports

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