Kazakhstan considers joining Black Sea grain pool
ASTANA. October 29. KAZINFORM Kazakhstan could join the proposed Black Sea grain pool, a local agriculture official said Monday.
Kazakhstan would join the pool as long as it fit the country's interest, Deputy Agriculture Minister Omiriyayev said.
The grain pool is a proposed cooperation mechanism involving Russia, Kazakhstan and Ukraine aimed at offsetting world wheat market price volatility, ensuring steady grain sales and protecting producers' interests by maintaining stable grain production.
Analysts say the key to the success of the pool lies in the cooperation of the three countries, which are the principal competitors in the regional grain market, Xinhua reports.
The concept was first put forward during the 1st World Grain Forum in 2009 in St. Petersburg, Russia.
Russian Prime Minister Dmitry Medvedev proposed the three countries discuss pooling their grain with a goal of working out a plan by Dec.10, 2013.
The estimated potential total grain exports of Russia, Ukraine and Kazakhstan are about 70 million tons.