New Food market report from Business Monitor International: "Kazakhstan Food & Drink Report Q4 2013"
Boston, MA -- (SBWIRE) -- 09/24/2013 -- BMI View: Kazakhstan is set for a period of solid, if not spectacular, real GDP growth in the years ahead, with our forecasts showing 5.4% and 5.5% expansion in 2013 and 2014 respectively. Private consumption is set to remain the primary driver of growth. Indeed, we forecast private consumption to remain robust throughout the course of 2013 and into 2014, with projected growth of 6.6% and 6.1% y-o-y respectively. Kazakhstan remains an attractive destination for foreign investments owing to its vast natural resources wealth, good location to export to high growth markets in East and South Asia, and steadily improving business environment.
Headline Industry Data (local currency):
- 2013 per capita food consumption: +8.8%; compound annual growth rate (CAGR) forecast to 2017: +10.1%
- 2013 alcoholic drink value sales: +9.7%; CAGR forecast to 2017: +11.5%
- 2013 soft drink value sales: +15.2%; CAGR forecast to 2017: +15.1%
View Full Report Details and Table of Contents
Key Industry Trends And Developments
Wheat Output to Recover: We maintain our forecast for wheat production in Kazakhstan to recover by 63.0% in 2013/14, to 16.0mn tonnes, thanks to higher yields. The strong growth in output follows losses seen in 2012/13 as a result of severe droughts. Area harvested is set to increase by about 7.2% in 2013/14, while yields are set to recover by 43.0% year-on-year (y-o-y) to 1.1 tonnes per hectare (ha). Kazakhstan's objective to diversify away from wheat production is likely to push the country's corn and barley production higher in 2013/14.
Shopping Mall Development in Kazakhstan: At the beginning of 2013, the largest private shopping mall developer in the Middle East, MAF Properties, announced plans to expand into Georgia, Kazakhstan, Armenia and Azerbaijan in the near future, starting with Georgia as early as this year.
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