According to the official data, Kazakhstan exported almost 6 thsd tonnes of rapeseed oil in February 2021/22 MY (excluding deliveries to the Customs Union countries), up 35% m/m and up 9.9 times y/y. It is the largest monthly volume exported since March 2020.
Traditionally, China increased purchases of Kazakh rapeseed oil in the second half of the season. In February, China was the only one importer of Kazakh oil, as the logistical problems on the border stations eased and demand increased.
“Since the beginning of 2021/22 MY, China imported 14.9 thsd tonnes of Kazakh rapeseed oil, or 61% of the overall volume exported (24.6 thsd tonnes). The USDA forecasts Kazakhstan to export 25 thsd tonnes of rapeseed oil in 2021/22 MY. Thus, the export potential has been almost performed”, – APK-Inform analysts explained.