"Asia Grains & Oils Conference in Tashkent", Tashkent, Uzbekistan
DATE
Sep 8, 2021

Uzbekistan to raise production of fat & oil products by 7-10% in 5 years

Source

APK-Inform

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Uzbekistan can raise the production of fat & oil products by 7-10% in 5 years, from 607 mln USD in 2021 to 890 mln USD in 2026, declared Oybek Zufarov, chairman of the board with Association of fat & oil enterprises of Uzbekistan “Uzyogmoysanoat”, within Asia Grains&Oils Conference in Tashkent 2021.

“Reforms that are carried out in Uzbekistan support fat & oil enterprises and the development of the industry in general. Besides, we expect the growth of investments into this segment. In 2021, fat & oil industry got 42 mln USD of investments. This figure will have amounted to 50 mln USD by 2024 that will improve the technological provision of the enterprises”, - he said.

The expert noted that the attraction of investments raises the local content of fat & oil products by about 0.3 mln USD per year.

“It may feel not really sizable figure, but is it quite significant figure for our industry”, - O. Zufarov emphasized.

He added that these factors could lead to the growth of export of Uzbek fat & oil products by 2.5 times to 50 mln USD in the next 5 years.

 

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