State grain reserves in Kazakhstan have been held since 1920, when the People's Commissariat for Food (Commissariat) was established at the Congress of Soviets of the Kazakh ASSR.
Subsequently Commissariat was repeatedly reformed and renamed. It has been called the Office of the Committee for the Kazakh ASSR reserves, Ministry of Kazakhstan’s cereal products, Ministry of reserves. The tasks and functions of the agency changed except for its main function - to ensure the food security of the country.
The new History of state purchases of grain began in 1995.
In order to purchase grain into the state resources and develop new credit and payment mechanisms in the agricultural sector the State Food Contract Corporation was established by the Decree of the Cabinet of Ministers of the Republic of Kazakhstan dated March 21, 1995, No. 309.
In accordance with the Decree of the Government of the Republic of Kazakhstan dated February 24, 1997, No. 260, in order to improve the system of procurement of grain and products of its processing into the state resources, the State Food Contract Corporation was reorganized into the Food Contract Corporation Joint-Stock Company with one hundred percent state share in its authorized capital.
By the Decree of the Government of the Republic of Kazakhstan dated December 23, 2006 No. 1247, On measures to implement the Decree of the President of the Republic of Kazakhstan dated December 11, 2006 No. 220, the ownership and use of shareholdings of the Food Contract Corporation were transferred to the Holding KazAgro JSC.
On July 5, 2007 Food Contract Corporation Joint - Stock Company was assigned the status of the National Company.
June 12, 2020 - 100% stake of NC Food Contract Corporation JSC was transferred from Holding KazAgro JSC to republican ownership (to the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan). On the basis of the Acceptance-and-transfer Act dated June 12, 2020 No. 7, the right to own and use a block of shares of NC Food Contract Corporation JSC was transferred to the Ministry of Agriculture of the Republic of Kazakhstan (Resolution of the Government of the Republic of Kazakhstan dated May 27, 2020 No. 326 "On some issues of the "National Company "Food Contract Corporation" Joint-Stock Company).
- participates in ensuring the food security of the country through quantitative and qualitative preservation of the food grain reserve;
- contributes to the stabilization of the domestic grain market and the development of exports;
- applies high standards of administrative management in accordance with best corporate governance practices.