(Corrects spelling of CEO’s name in second graph.)
Jan. 24 (Bloomberg) -- Kazakhstan’s state grain trader will buy 3 million metric tons of grain for stockpiles, on top of 5 million tons targeted because of a large crop.
About 100,000 tons of the extra allotment was bought at 16,500 tenge ($111) a ton and the price for the rest will be 20,000 to 21,000 tenge a ton, Beybitkhan Kabdrakhmanov, chief executive officer of JSC National Co. Food Contract Corp., told reporters in the capital Astana today. The price for the first 5 million tons was 25,000 tenge, he said.
Kazakhstan’s grain crop was 26.9 million tons last year, according to the State Statistics Agency.
--Editors: Claudia Carpenter, John Deane
To contact the reporter on this story: Svetlana Antoncheva in Astana, Kazakhstan at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Carpenter at email@example.com