Kazakhstan has doubled the export of oil and fat products to the EU countries and intends to increase it

Published 2023년 6월 13일

Tridge summary

Kazakhstan has seen a significant increase in the export of oil and fat products to the EU, nearly doubling in 2022. The country exported about 589 thousand tons of vegetable oils and meal, a 78% increase from 2021, with monetary terms increasing by 118% to $521 million. Traditionally, 90% of these exports have been to China and Central Asian countries, but with a change in geopolitical situation, new directions have been added, including Turkey and European countries. In 2022, the top buyers were Latvia, Denmark, and Belgium. Kazakhstan also increased the production of vegetable oils by 69% to 463.7 thousand tons, with sunflower oil making up 81% of this production, and increased the production of meal/cake by 43% to 597.7 thousand tons. The head of the National Association of Oilseed Processors, Yadykar Ibragimov, stated that the country plans to further increase these exports in the next 2-3 years.

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Original content

Kazakhstan has increased the supply of oil and fat products to the EU countries by almost 2 times and is ready to further increase exports in this direction. This was announced by the Chairman of the Board of the National Association of Oilseed Processors (NAPMC / NOPA) Yadykar Ibragimov. According to the data announced by the speaker, in 2022 Kazakhstan exported about 589 thousand tons of vegetable oils and meal, which is 78% higher than in 2021. For comparison, in the dock seasons, the export of these products did not exceed 505 thousand tons. In monetary terms, the export of oil and fat products increased even more significantly - by 118%, to $521 million. The head of NAPMK noted that traditionally, about 90% of the export of Kazakh oils and meal falls on China and the countries of Central Asia. “However, recently, taking into account the change in the geopolitical situation, new directions of supplies have been added, in particular Turkey and European countries,” said Y. ...

Source: Oilworld