Kazakhstan launches forward procurement of the 2017 crops

23/02/2017,

On 21 February, the Food Contract Corporation (FCC), the national body managing the state grain reserves, launched the forward procurement campaign for the 2017 crops, including wheat, maize, millet, rye and soybeans, among others. Under the campaign, the FCC makes forward procurement purchases from farmers at set prices to support spring season planting activities to start in May. Conditions to access the advance payments include, guarantee from producers’ credit institutions, a 5 percent commission on the advance amount and delivery of the crop by 1 December at latest.

Country: Kazakhstan