National Company Food Contract Corporation JSC (Food Contract Corporation) has completed implementation of the program of the forward purchase of wheat by financing agribusiness entities for the purchase of wheat or wheat seeds ready for planting at the expense of its own and borrowed funds. Overall, Food Contract Corporation has funded 75 applications of the agricultural commodity producers (ACP) on the program for the total amount of 832.7 million tenge.
Recall that in the program, which started in late November 2014, Kostanay and North-Kazakhstan region farmers were able to participate. Their lists were formed by the Regional Coordinating Councils at the regional Akimats.
Financing of the ACP was carried out at the rate of 6000 tenge per 1 ha of sowing area. Farmers have to perform their obligations until November 1, 2015, inclusive, by the supply of wheat.
It should be noted, that financing of farmers to carry out the sowing campaign continues at the expense of the budget loan.
At present, the Food Contract Corporation launched a program of the forward purchase of wheat and barley from the ACP by means of spring and summer financing under the guarantees of the social-entrepreneurship corporations. The Ministry of Agriculture of the Republic of Kazakhstan allocated budget funds totaling 17 billion 650 million tenge for its implementation.
As of February 17, 2015, Food Corporation received 136 applications within the program from farmers of Kostanay and North-Kazakhstan regions for the total amount of over 1,5 billion tenge.