Stronger tenge slows Kazakh grain exports - union(adds 4th-6th paragraphs)A sharp strengthening of Kazakhstan's currency has created a price gap between domestic and export markets, slowing grain shipments and prompting some exporters to pause new deals, an industry group said.“Shipment rates remain low. Due to the sharp strengthening of the tenge, a disparity is forming between domestic and export prices,” Karabanov said on the Telegram messaging app. “A number of exporters have suspended new contracts.”Karabanov said the market is facing another blow after already being hit by changes in the new Tax Code.If the slowdown persists, he said, excessive carryover stocks could build up, putting downward pressure on prices."If the decline becomes systemic, we could see higher carryover stocks. That would put pressure on market prices. Other factors could also come into play," the analyst told Interfax-Kazakhstan."The union is keeping its export forecast for wheat, wheat flour and feed grain at 13 million metric tonnes for the current agricultural year. We will continue monitoring export trends," he said when asked whether the current situation poses a risk of missing the grain export target.Earlier in March, Karabanov noted that activity in Kazakhstan's grain market remained subdued partly due to new tax requirements. He said Kazakh farmers could lose about 200 billion tenge in 2026 due to tax code changes that reduce value-added tax refunds for grain exporters.The tenge has been strengthening since late February. The National Bank attributes the rise to higher oil prices.Despite the current slowdown, Kazakhstan exported 8.9 million tonnes of grain from the start of the current agricultural year in September 2025 through March 18, the Agriculture Ministry said. That is 12.7% higher than the 7.9 million tonnes exported during the same period a year earlier.The ministry plans to export 13 million tonnes of new-crop grain in the current agricultural year, nearly matching the previous year's figure.Kazakhstan increased its grain harvest by 2% in 2025 to 27 million tonnes, with yields of 17 quintals per hectare. In 2024, farmers harvested 26.5 million tonnes with an average yield of 16 quintals per hectare.-- (ICE ALMATY)

Fonte notizia: INTERFAX