Kazakhstan is increasing the supply of sunflower oil

Published 2022년 6월 14일

Tridge summary

Kazakhstan's agricultural enterprises have seen a significant growth in export earnings from sunflower oil, with a two-fold increase in the first quarter of 2022 compared to the same period in 2021, reaching $67.9 million. This increase is due to both a rise in prices and an increase in production, with the average export price for Kazakh sunflower oil increasing by a quarter from 2021. There has also been an expansion in the geography of exports, with China being the main buyer and new markets emerging. Additionally, the trend of processing more products and exporting less raw material is benefiting the agricultural industry by increasing export potential, providing indirect benefits such as additional feed volumes for farmers, job creation, and tax payments to the budget.

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

Original content

Export earnings of Kazakhstani agricultural enterprises from the sale of sunflower oil continue to grow. According to the Bureau of National Statistics, from January to March 2022, shipments of sunflower, safflower and cottonseed oil abroad amounted to $67.9 million, a two-fold increase compared to the same period in 2021. At the same time, not only the volume of supplies is growing, but also the geography of exports. In parallel with this, the export of sunflower seeds is falling, that is, Kazakhstan is starting to sell abroad more processed products instead of “simple seeds”. The Telegram channel Tradereport.kz notes that the trend for the growth of foreign supplies of Kazakhstani sunflower oil continued in April as well (more recent statistics are not yet available). Thus, export earnings from its sale since the beginning of the year reached 99.1 million dollars, and this is also more than twice the level of last year. In physical terms, exports increased by 65% to 72.7 ...

Source: Oilworld