The National Company Food Contract Corporation JSC (Food Contract Corporation) continues implementation of the program of forward purchase of wheat and barley from agricultural commodity producers (ACP) through the spring and summer financing under the guarantees of the social-entrepreneurial corporations.
As of February 25, 2015, over 600 applications from farmers from different regions for the total amount of 5.3 billion tenge were received by the Food Contract Corporation. And the total claimed sown area exceeded 880 thousand ha.
After consideration 283 applications were approved for the amount of over 2.7 billion tenge for the total sown area of over 450 thousand ha.
We remind that farmers have to perform their obligations until November 1, 2015, inclusively, by means of wheat supply. In general, 17 billion 650 million tenge were allocated for the implementation of the program.
In general, the group of companies of the National Holding KazAgro plans to allocate about 97 billion tenge to carry out spring sowing and harvesting in 2015.
In 2014, the holding financed the sowing and harvesting campaigns for 49.9 billion tenge. These measures allowed ACP to carry out agricultural activities on the area of 5.4 million ha.