Seed exports have been restricted while the cost of oil has not fallen that much

Processors have succeeded in restricting the export of sunflower seeds, while the cost of the commodity has not changed, World of NAN reports.

According to the monitoring agency Energyprom.kz, by the end of June 2023, prices for vegetable oil for the year have not changed much (a slight decrease - by 0.4%, sunflower oil - by 0.9%). However, in 9 out of 20 regions of the country the price of oil has increased.

The highest annual growth was noted in Astana (plus 12.1%), as well as in Atyrau (plus 10.8%) and Kostanai (plus 6.8%) regions. Sunflower oil also rose in price in the capital by 12.1% over the year, the smallest growth was recorded in Kyzylorda region by 0.6%.

If the state was limiting the export of sunflower seeds for the sake of reducing the cost of processed products, the mission has completely failed. Nothing has changed for Kazakh people, and farmers on the contrary have lost their profits.

The only one who is in the plus are processors, who increased oil exports by 27.6% percent for the year, and sunflower oil exports by 40.2%. Moreover, this growth was to the detriment of domestic consumption, as local companies limited sales on the domestic market. Thus, oil imports increased by 54.7% to 59.4 thousand tons.

Based on the figures, the question arises, where is the logic? The state by its actions simply increased the profit of processors. At the same time, the population continues to feel the fluctuation of prices for products. It would be more logical to limit export of processed products together with limitation of sunflower seeds export, only then Kazakhstan people will feel the difference.

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