Kazakh Agriculture Ministry establishes United Grain Company
2012-02-27 11:14:24
The Kazakh Agriculture Ministry launched work to establish United Grain Company, the ministry reported on Friday.
"Work has been set up on United Grain Company on the base of public and private partnership. The company will carry out major grain trader functions: purchase of grain from the Kazakh Food Contract Corporation and free market, grain storing and export of purchased grain when prices rise to consolidate the brand 'Kazakh grain' on the world markets," the ministry said.
Moreover, the company will carry out grain swap operations (SWAP) and develop grain storage and transportation.
Establishment of United Grain Company was ordered by Kazakh President Nursultan Nazarbayev in his address to the people on Jan.27.
"I order the government to develop and introduce a mechanism of state support for retail trade, organize and structure the grain industry, create a united holding company without mediators," Nazarbayev said.
Kazakhstan is one of the world's main grain producers