Kazakhstan not to face deficit of sunflower seed by-products in nearest future – opinion

Source

APK-Inform

5980

The Ministry of Agriculture of Russia has offered to impose a quota on export of sunflower by-products at 1.5 mln tonnes for oil and 0.7 mln tonnes for meal. Moreover, they are considering hiking an export duty on sunflower seed to 70%, but not less than 490 USD/t. These restriction should be in force from April 1 to August 31, 2022.  

“Russia is one of the biggest producers and exporters of sunflower oil in the world. Over the last three years, the annual sunflower oil export was 2.9 mln tonnes, meal – 1.8 mln tonnes. The share of Central Asia, including Kazakhstan, in the export structure of Russian sunflower oil is only 13%. The share of Central Asia in the export structure of meal is less than 1%”, – commented Yadykar Ibragimov, Chairman of National Association of Oilseeds Processors of Kazakhstan.

He added that there would not be any deficit of sunflower seed by-products in Kazakhstan in the nearest future. The country is a part of the EAEU and the Russian export quotas do not cover the union.

“The prices of sunflower oil keep on growing in the world. We expect the price to increase by about 50% compared to the level before the war. The prices will be supported by the ongoing military activity in Ukraine and possible export restriction in Russia. Russia is trying to stabilize the prices on the domestic oilseed market. They can ban the export of sunflower seed to intensify processing”, – Y. Ibragimov summarized.
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