Agrarians of the EAEU countries will mutually verify warehouse receipts for agricultural products

The EAEU countries signed the Agreement on warehouse receipts for agricultural products. This document will allow the development of online trade in agricultural products in the EAEU countries on the basis of mutual recognition of undocumented warehouse receipts.

The agreement defines the requirements for warehouse receipts, regulates the relationship between warehouse receipt holders and warehouses storing agricultural products, and establishes a list of information that must be contained in the register of warehouse receipts and in the roster of warehouses.

This Agreement provides conditions for agricultural producers from Kazakhstan to receive a loan secured by a warehouse receipt in the Eurasian «five», as well as to sell their products distantly by selling warehouse receipts.

Besides, market participants would have access to information about the warehouse infrastructure available in the EAEU countries, including information on the name, type, capacity, storage volume and location of the warehouse.

Crucially to note that the partner countries will ensure on their monitoring compliance over the following rules by warehouses with the rules for issuing (release) and redeeming warehouse receipts, rules for storing agricultural products, safety requirements and maintaining quantitative and qualitative accounting of agricultural products.

In general, the implementation of the Agreement will facilitate the promotion of Kazakhstanian agricultural products to the markets of the EAEU member states, which will provide have a positive impact on the development of agriculture in Kazakhstan.

The provisions of the Agreement will be available from
1 of June, 2026. Until this time, the EAEU member states need to adopt the necessary national legal acts and improve the practice of handling warehouse receipts.