Single grain holding to be set up in Kazakhstan
Kazakh National 'Food Contract Corporation' and the National Association 'Union of Kazakhstan's Farmers' signed an agreement on the creation of a single grain holding. The agreement was signed in KazAgro National Holding, Novosti-Kazakhstan reported with the reference to KazAgro.
Kazakh President Nursultan Nazarbayev ordered to establish a single grain holding during his appeal to the nation on January 27, 2012, as well as at the expanded government meeting on January 23, 2013.
The Single Grain Holding was created on the principles of free
association of grain market participants on equal terms. Meanwhile,
they maintain the legal and economic independence to achieve the
following purposes: increasing access to sowing and harvesting
campaign financing, guaranteed sale of grain in spring and autumn
period at the market price, grain sale and the subsequent
distribution among grain producers, the creation and development of
the grain storage and export infrastructure.
The agreement creates a legal basis for the involvement of grain
producers into the holding. A Public Council on the grain market
was created to represent the interests of the participants of the
holding.
The participants of the new holding should consult with the Public
Council on the volume and price of purchased and sold grain, as
well as on the amount and time of grain distributions among the
producers.
