National Oilseed Processors Association of Kazakhstan (NOPA) welcomes the introduction of an export duty on sunflower seed.
"This measure was introduced, among other things, due to threats on the world market amid the reduction of sunflower seed production – the deficit is estimated at 9 mln tonnes. Moreover, it is necessary to note the intention of importers from Central Asia, where the shortage of sunflower seed amounts to more than 0.5 mln tonnes, to develop their own processing industry by importing our oilseed", – NOPA told to APK-Inform.
According to market participants, the introduction of the duty is a timely measure capable of restraining sharp price volatility for finished products by increasing own production and exporting surplus of by-products.
The Ministry of Trade and Integration of the Republic of Kazakhstan introduced a customs duty on the export of sunflower seed in the amount of 20%, but not less than 100 EUR/t.