Income of Kazakh sunflower oil exporters is falling

Despite the increase in the volume of sunflower oil exports by Kazakhstan this year, in monetary terms the supply of these products to foreign markets has decreased. QazTrade reports this. Thus, in the first half of 2023, Kazakhstan exported sunflower oil worth $149 million. This is 13% lower than the same period last year ($171.8 million). At the same time, the share of this product in the total export of non-primary agricultural products was about 13%. “World prices for unrefined oil have been steadily declining since October 2022, the overall drop through May was 31% (in euros) or 28% in tenge terms. Until February 2023, prices of Kazakh producers and export prices were at parity,” said QazTrade. It is also noted that after the introduction of a duty on the export of sunflower seeds, export prices for unrefined oil began to decline sharply, and producer prices - moderately. So, according to QazTrade, in March of this year. selling prices of Kazakh producers exceeded export ...