Kazakhstan Market Overview (July 14–20, 2025)

Kazakhstan Market Overview (July 14–20, 2025)

1. Domestic Prices (EXW, incl. 12% VAT)

Product	Price Range (KZT/t)	Approx. EUR/t
Wheat Class 3 (23–24% gluten)	92 – 95	~148 – 153
Wheat Class 3 (25–26%)	96 – 99	~154 – 160
Wheat Class 3 (27%)	112 – 115	~180 – 185
Wheat Class 3 (28–29%)	125 – 128	~201 – 206
Wheat Class 3 (30%+)	138 – 142	~222 – 229
Wheat Class 4	90 – 92	~145 – 148
Wheat Class 5	86 – 89	~138 – 143
Feed Barley	87 – 91	~140 – 146
Flaxseed	300 – 305	~483 – 491

(Exchange rate: 1 EUR ≈ 621 KZT)

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2. Export Prices (USD/t)

Product	Price Range (USD/t)	Approx. EUR/t
Wheat Class 3 (23–24%)	210 – 215 DAP	~193 – 198
Wheat Class 3 (25–26%)	215 – 220 DAP	~198 – 203
Wheat Class 3 (27%)	250 – 255 DAP 🔽	~229 – 234
Wheat Class 3 (28–29%)	275 – 280 DAP	~252 – 257
Wheat Class 3 (30%+)	305 – 310 DAP	~280 – 285
Wheat Class 4	201 – 206 DAP 🔽	~184 – 189
Wheat Class 5	200 – 205 DAP	~183 – 188
Feed Barley (DAP Saryagash)	208 – 212	~191 – 195
Feed Barley (FOB Aktau)	233 – 235	~214 – 216
Flaxseed (FCA)	600 – 610	~552 – 561
Flaxseed (CIF ARAG, EU Aug)	720 (↓5 USD w/w)	~662

(Exchange rate: 1 USD ≈ 533.6 KZT, 1 EUR ≈ 621 KZT)

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3. Exchange Rates (National Bank of Kazakhstan)

• USD/KZT: 533.61 🔼
• EUR/KZT: 621.07 🔼
• RUB/KZT: 6.78 🔼
• CNY/KZT: 74.34 🔼

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4. ETS Exchange Activity

• 57,423 t of wheat traded last week:
  • 42,129 t Class 3 (23%) at 90–92 KZT/t.
  • 13,405 t Class 4 at 88 KZT/t.
  • 137 t Class 3 (30%) at 128 KZT/t.
• Exports:
  • 700 t Class 3 (23%) at ~220 USD/t (DAP Saryagash).
  • 140 t Class 5 at ~198 USD/t (DAP Turksib to Kyrgyzstan).
• Additional offers (no deals):
  • Class 3 (23%) at 93–101 KZT/t.
  • Class 3 (27–30%) up to 130 KZT/t.
  • Class 4: 90–92 KZT/t.
  • Feed barley: 90 KZT/t.

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5. Weather & Crop Conditions

• Weather: Thunderstorms, patchy fog; day temps: +20 to +28 °C; night: +14 to +20 °C.
• Flax is in flowering to capsule formation stage — current weather is ideal for plant development.
• Fungicide treatments are ongoing; most farms are either done or in process.

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6. Export Conditions & Subsidies

• No major export price changes. Wheat Class 4 saw a slight $2/t decrease.
• Export activity remains seasonally slow, with many elevators under maintenance or closed for fumigation.
• State transport subsidies:
  • 537 applications approved (1.205 million t)
  • 9.15 billion KZT (~17.15 million USD) paid out for 409,700 t of wheat exports.

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📈 Outlook

• Short-term: Prices remain largely stable; seasonal slowdown limits trade dynamics.
• Mid-term:
  • Wheat prices may firm slightly if harvest quality remains high and exports pick up.
  • Flaxseed could face pressure from declining EU prices (currently CIF ARAG: 720 USD/t; new crop Nov–Feb: 715–725).
• Favourable weather in northern Kazakhstan supports expectations for a good yield in cereals, oilseeds, and pulses.