Subsidizing for the processing of fish products will be introduced in Kazakhstan from January 2025

Published 2024년 7월 23일

Tridge summary

The Fisheries Committee of the Ministry of Agriculture has introduced subsidy rules to support fish processing enterprises, which currently lack government backing for deep fish processing. These subsidies aim to lower costs and boost profitability by subsidizing the purchase of raw fish from various farms for producing and selling finished products. This initiative is expected to increase demand for domestic raw fish, enhance exports of high value-added fish products, and boost the industry's export potential. The subsidy rules, which cover specific fish types with guaranteed purchase prices, will take effect on January 1, 2025, as part of the Fisheries Development Program for 2021-2030.

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Original content

The Fisheries Committee of the Ministry of Agriculture has developed subsidy rules, according to the website of the agricultural department. As noted in the report, currently fish processing enterprises are not interested in expanding deep processing of fish, since they are not covered by government support measures. “In order to reduce costs and increase the profitability of processed products, it is proposed to introduce a mechanism for subsidizing final fish products. This, in turn, will create demand for domestic raw fish, including farmed fish, and will also ensure growth in exports of high value-added fish products and ultimately increase the export potential of the industry. Therefore, the introduction of a mechanism for subsidizing the processing of fish products is an important step in the framework of the implementation of the Fisheries Development Program for 2021-2030,” the Ministry of Agriculture commented. According to the department, subsidies will be paid to fish ...

Source: Agrosektor