Government to provide Food Corporation with extra KZT7.2 bn. to buy grain from government reserves

/INTERFAX-KAZAKHSTAN, Astana, July 16, 08/ - Kazakhstan government will provide Food Contract Corporation JSC (Food corporation is the Kazakhstan grain purchase operator in government reserves) with extra KZT7.2 bn. (the current 120.15/$1). "Today I made such a decision: to give order to the Ministry of Finance and Ministry of Economy to decide on providing KZT7.2 bn. from reserves for Food Corporation capitalization" - the Prime Minister of Kazakhstan Karim Masimov said at session in the Ministry of Agriculture in Astana on Saturday. At that, he reminded that Food Corporation has own assets in the amount of KZT10.8 bn. "All in total makes KZT18 bn. for grain purchase. This is as our stable place, we provide our internal market with this and we can say that will have enough grain" - K.Masimov said. As was informed, Food Corporation should purchase 400 th. tones of grain in the government reserves and 1 m. tones in commercial reserves this year. Last year Food Corporation purchased 1.2 m. tones of grain. Of which 344 th. tons of wheat were purchased for renewal of government reserves. Food Corporation has 10 regional representative offices in Kazakhstan and also foreign offices in Britain, Russia, China, Iran and Azerbaijan. Corporation has 5 daughter enterprises, which specialize in grain purchasing, storage and logistics, 6 bread bases in different regions of Kazakhstan, grain terminal in Aktau port on Caspian sea with 500th. annual transfer capacity. Food Corporation is the part of KazAgro National holding structure. [2008-08-18]