Prices for sunflower meal and oilcake go down in Kazakhstan

The production of sunflower oil and high-protein feed such as sunflower meal and oilcake has increased in the country. The increased capacity utilization of processing plants has had another positive effect - sunflower meal and cake have become noticeably cheaper, World of NAN reports.

According to Chairman of the National Association of Oilseeds Processors Yadikar Ibragimov, the prices for sunflower meal in the first half of this year fell by 9-19%. The expert assures that the falling prices will be a good support to hold down the cost of essential domestic products.  This is primarily poultry, dairy products and eggs.

He also noted that the sunflower oil prices on the domestic market are not higher than last year's level thanks to the restrictions on the export of sunflower seeds, which came into force from September 1, 2021 and will continue until July 1 this year.

As Y.Ibragimov said, amid increasing production, the export of sunflower oil is gaining momentum, which for 9 months of season 2021/22 increased by more than 60% compared to the same period of last season.

Chairman of the Association believes that the country follows the right direction, which was mentioned by the President of the country. Kazakhstan has great opportunities to increase exports of processed products, particularly vegetable oils and high-protein fodder, due to its geographical location and fertile land, for the cultivation of which considerable subsidies are allocated by the state.

"The domestic market of Kazakhstan does not consume as much unrefined oil as it produces, and the production capacity allows processing much more raw materials grown in our country. Therefore, it is necessary to increase the production of oil crops and increase the export of finished products, because it is much more profitable for the state than selling raw materials abroad," sums up Yadykar Ibragimov.