Kazakh farmers suffer losses due to export duty on sunflower

Published 2024년 2월 13일

Tridge summary

Kazakhstani farmers are struggling to sell their sunflower crops due to export duties, despite a decrease in sunflower oil prices. Over 1 million tons of sunflower have accumulated in warehouses as a result. Meanwhile, imports of Russian sunflower have increased. On the other hand, the agricultural sector in Kazakhstan received over half a trillion tenge in support in 2023, with plans for an increase. Farmers have access to three loan programs and leasing services for the purchase of locally made agricultural machinery.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In Kazakhstan, prices for sunflower oil have decreased over the year. Sounds like great news. But not everything is so simple. As it turned out, farmers found themselves in a difficult situation. They cannot sell sunflower on the domestic market. Why don’t Kazakh oil processing enterprises buy raw materials? Externally, everything is fine in the industry. Prices for sunflower oil decreased by 18% over the year. But here it turns out that farmers have a problem with selling their products. Farmers cannot sell sunflowers not only on the domestic market, but also abroad. It's all about the export duty. For every ton of products sold, the farmer must return 50 thousand tenge to the state. And factories buy a ton of sunflower at the price of grain - 130 thousand tenge per ton. The export duty on the export of sunflower puts farmers at a disadvantage, according to the Union of Field Growers of Kazakhstan. As of January 1 of this year, over 1 million tons of sunflower had accumulated in ...
Source: Oilworld

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