Kazakhstan increased production of sunflower oil in 2022/23 MY

In 2022/23 season, Kazakhstan’s oil extraction enterprises produced more than 417 thsd tonnes of crude oil, which is 1.5 times higher than in 2021/22 MY. Such data were announced by the Executive Director of the National Association of Oilseed Processors (NAOPK) Oleksandr Yashkov. He also emphasized that the country recorded the increase in the production of refined sunflower oil – up to 145.3 thsd tonnes.

According to Mr. Yashkov, Kazakhstan also reduced its dependence on imports in the reporting period: last MY imports of bottled oil dropped by more than 11% to 39.7 thsd tonnes.

At the same time, the export duty on sunflower, introduced in the Republic of Korea on February 4, contributed to the increase in sales of finished products by 77%, to 310.6 thsd tonnes.

“In the next 3 years, the foreign exchange earnings of Kazakh oil and fat products may exceed $700 mln. The actual figure for 2022 is $521 million. Our products are sold to China, Central Asia and Europe. Uzbekistan ranks second in terms of imports of Kazakh fat-and-oil products, while Tajikistan and Latvia are also among the top five importers,” said the NAOPK executive director.

He also predicted that this year Kazakhstan’s oilseed harvest is expected to decline by 17% to less than 850 thousand tons. The expert believes that oilseed factories will be forced to operate in conditions of raw material shortage.

“The relevant ministries need to think about how to preserve raw materials for sunflower oil and high-protein feed (meal, cake) within the country. Despite the imposed duty, the export of sunflower seeds continues, and in 2022/23 season, the export of seeds amounted to 312.4 thsd tonnes. A year earlier, the figure was 223.7 thsd tonnes,” explained Mr. Yashkov.

Tags: sunflower oil, Kazakhstan