The Grain Union of Kazakhstan proposes to abolish the duty on sunflower exports from February 15

Published 2024년 2월 7일

Tridge summary

The Grain Union of Kazakhstan (ZSK) has suggested the cancellation of the export duty on sunflower exports from February 15, 2024, to support farmers during the sowing season. The proposal comes in light of data indicating that the country's sunflower reserves stood at 1.074 million tons as of January 1, 2024. The move would enable farmers to sell seeds at a fair price, especially to markets in Uzbekistan and China, potentially yielding an additional income of 13.6 billion tenge. The step is also deemed necessary due to the improper drying of sunflowers by many producers, resulting in quality loss and decreased demand.

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Original content

To support farmers on the eve of the sowing season, the Grain Union of Kazakhstan proposes to cancel the export duty on the export of sunflower from February 15, 2024. ZSK argues for the proposal, citing data from the Bureau of National Statistics, according to which sunflower reserves as of January 1, 2024 in the Republic of Kazakhstan amounted to 1.074 million tons. According to the union, imports of oilseeds from January to October will amount to 195 thousand tons. Taking into account the volume of processing by oil factories in October-December 2023 (an average of 94.3 thousand tons/month), the need for sunflower from January to October 2024 is 849 thousand tons. As a result, sunflower oil exports in 2023-24 MY are projected at 300 thousand tons, which is 9% higher than the average for the last four seasons (276 thousand tons). If oil factories form a 2-month supply of sunflower by the beginning of the new season in the amount of 189 thousand tons, and taking into account the ...

Source: Oilworld