The slowdown in price growth for beef and lamb in Kazakhstan persists even after the removal of export quotas, reports infohub.kz.
Deputy Minister of Agriculture Azat Sultanov explained at a briefing after a government meeting that the earlier price surge was driven by external factors, particularly heightened demand for Kazakh products on foreign markets. Neighboring Uzbekistan was actively purchasing meat from Kazakhstan, which necessitated timely measures to stabilize prices in coordination with state bodies, including the introduction of quotas.
According to Sultanov, prices stabilized during the quota period. Now that quotas have been lifted, meat exports are unregulated, yet prices remain stable. Since the start of the year, beef prices have risen by 4.6%, but over the past month there has been only slight volatility of 0.1%, linked to market rates. The vice minister emphasized that even without regulation, no significant increase is observed.
The situation is similar for lamb: prices have risen by 17.5% since the beginning of the year, but recently the price has stabilized, with an increase of only 0.2%. This confirms that the main driver was heightened demand, which is positive for Kazakh producers.
Minister of Trade and Integration Arman Shakkaliev noted that meat price increases are observed worldwide. Lamb prices have been influenced by events in the Persian Gulf countries, including the conflict between Israel, the US, and Iran. Beef consumption is rising in China, Africa, and other regions, altering global market conditions. If demand is high in Uzbekistan, businesses choose more profitable markets. The minister stressed that prices must be fair for both consumers and producers, and equilibrium is formed in the market.
High demand for Kazakh products abroad also affects domestic prices. According to monitoring data, over the weekend beef on the bone cost 3,700 tenge, slightly higher in retail chains. Shakkaliev considers the situation stable but declined to forecast possible price increases. According to the Bureau of National Statistics, as of early August, annual price growth for meat and poultry was 15.8%.