China sharply reduced purchases of sunflower oil from Kazakhstan

Published 2022년 4월 21일

Tridge summary

The article highlights a significant decrease in vegetable oil supplies, specifically sunflower oil, from Kazakhstan to China by 97% in the first half of this agricultural season. This decline has shifted the market's dynamics, with Uzbekistan and Tajikistan now being the primary importers, absorbing 98% of the exports. Uzbekistan has emerged as the largest buyer, despite a slight reduction in volume, which has been balanced by an increase in purchases by Tajikistan. Additionally, demand for Kazakh sunflower oil is growing in Turkey and Europe, with other countries like Afghanistan, Russia, and Kyrgyzstan also showing interest. China's drastic reduction in purchases has notably impacted the market, but opportunities for growth in other regions are on the rise.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The volume of vegetable oil supplies to China in the first half of the current agricultural season decreased by 97%. Konstantin Nevzorov, President of the Fat and Oil Union of Kazakhstan, spoke about this at the Asia Grain & Oil conference in Nur-Sultan. The sunflower oil market turned out to be more consolidated this season. The fact is that China has sharply reduced purchases in Kazakhstan, so today the main volumes go to only two countries - Uzbekistan and Tajikistan, which accounted for 98% of export lots from September 2021 to January 2022. In the same period last season, the figure was 71%. At the same time, Uzbekistan also reduced the purchased volume (from 25.56 to 21.12 thousand tons), but the decrease was compensated by the increase in Tajikistan (from 5.4 to 12.38 thousand tons). Despite this, Uzbekistan remains the largest buyer of Kazakh sunflower oil. This country currently imports almost half of the consumed vegetable oil of all kinds - 187 thousand tons out of 483 ...

Source: Oilworld