OREANDA-NEWS. National company Food contract corporation JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

National company Food contract corporation JSC (Food Corporation) is about to complete implementation of the program of forward purchase of grains from agricultural producers (AP) through the spring and summer funding under the guarantees of socio-entrepreneurial corporations (SEC).

As of May 12, 2015, Food Corporation received over 1,950 applications from farmers totaling to more than KZT16.2 bn.

After consideration as of the specified date more than 1,908 funding applications worth more than KZT15.7 bn were approved. Upon receipt of guarantees 1,853 applications for a total amount of about KZT15.3 bn were funded Food Corporation. The total sown area claimed for financing amounted to 1.9 mln hectares.

As previously reported, for the implementation of this program KZT17 bn 650 mln were allocated. APs shall fulfill their obligations before November 1, 2015, inclusive, by delivery of grain to grain-authorized companies of Food Corporation.