MUMBAI, 5 Aug (Commoditiescontrol): Kazakhstan’s Deputy Prime Minister, Serik Zhuminagarin, recently addressed the potential introduction of an export customs duty on grain crops, a topic generating significant discussion. Zhuminagarin clarified that the government currently has no plans to impose such duties.
"The issue of introducing an export duty on grain is not on the government's agenda. The government regularly evaluates various scenarios to increase budget revenues. Proposals from the Ministry of Finance regarding export customs duties on certain raw materials need thorough analysis for economic feasibility and compliance with Kazakhstan's international obligations under the CPT. This analysis will be reviewed by the Interdepartmental Commission on Trade, involving the interested business community," Zhuminagarin stated on his social media page.
Kazakhstan anticipates a robust grain harvest this year, surpassing last year's yield. Additionally, approximately 3-4 million tons of wheat from the previous year remain in storage. The government aims to boost wheat exports and expedite the sale of this surplus grain.
"Kazakhstan produces around 19-21 million tons of grain annually, with the domestic market consuming 9-10 million tons. This means our production almost doubles the domestic demand, allowing the excess to be exported. Our country is a leading global wheat exporter, contributing about 45% to the total agricultural exports. We understand producers' concerns that an export duty on wheat could result in losing traditional markets," Zhuminagarin highlighted.
Addressing corn, Zhuminagarin noted the marketing challenges faced last year. The government believes that introducing tariff measures to regulate corn exports could lead to a reduction in sowing areas and production volumes.
Regarding meal and cake, Zhuminagarin emphasized that production volumes exceed domestic market needs and have short storage periods. Therefore, imposing an export customs duty on these products could negatively impact the oil and fat industry.
(By Commoditiescontrol Bureau; +91 98201 30172)
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