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Three more oil refineries are being built in Kazakhstan

Published May 29, 2024

Tridge summary

Kazakhstan's vegetable oil production is projected to rise to 750 thousand tons by the end of 2023, up from 672 thousand tons in 2023, with 80 enterprises involved in the process. The country saw a 4.3% growth in production in 2023, and plans to expand acreage, secure working capital, and implement new investment projects. The sale of finished products and by-products finds a ready market in China. However, the introduction of a 20% export duty on sunflower seeds, aimed at increasing domestic factory utilization, has led to a drop in purchase prices for local sunflower seeds and concerns from farmers about the suspension of local raw material purchases in favor of imports from Russia.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023, 672 thousand tons of vegetable oil were produced in Kazakhstan, and by the end of this year this figure is planned to increase to 750 thousand tons. Minister of Agriculture Aidarbek Saparov stated this at a government meeting today. According to the Ministry of Agriculture, 80 enterprises are currently involved in the production of vegetable oil. The production dynamics are positive: in 2023 the growth was 4.3% (644 thousand tons of oil were produced in 2022). The supply of these products today is 183%. “In three months of this year, 194.3 thousand tons of vegetable oil were produced. By the end of the year, production is predicted to increase to 750 thousand tons. This will be achieved by expanding the acreage, providing working capital for the purchase of raw materials and implementing new investment projects,” the head of the Ministry of Agriculture informed. In particular, this year the implementation of three projects with a total capacity of 100 thousand tons has ...
Source: Oilworld
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