How has the situation changed in the export of agricultural products?

How has the situation changed in the export of agricultural products?

Recently, the complete 2023 results of Kazakhstan's foreign trade with other countries were conducted. Kazakhstan's imports totaled $61.2 billion and exports $78.7 billion, which implies a 20% increase in imports and a 7% drop in exports. Thus, Kazakhstan's trade surplus fell from $33.7 billion to $17.5 billion. The World of NAN editorial analyst decided to see how the situation with some agricultural products has changed.

54% of exports were crude oil and oil products: Kazakhstan sold $42.3 billion worth of these goods, which is still 10% less than in 2022. Wheat and meslin took the 7th place in the ranking of export goods. We earned $1.85 billion on them (-3.3% y/y), a 2.4% share of all exports. In 2022, wheat's share was 2.3%. In terms of volume, 7.2 million tons of wheat were exported, an increase of 14%. It turns out that the average selling price fell by almost 17%. Exports to Uzbekistan (from 2.99 to 3.54 million tons), Turkmenistan (from 177 to 540 thousand tons), Italy (from 224 to 523 thousand tons) and China (from 36.6 to 539 thousand tons) increased significantly. Exports to Iran (from 559 to 68 thousand tons), Afghanistan (from 685 to 448 thousand tons) and Azerbaijan (from 291 to 111 thousand tons) fell strongly.

The next popular agricultural export product is flour, which was sold for $580 million, 23% less than in the previous year. It is worth noting that flour was sold 1.1% more by weight, indicating a price decrease of more than 20%. The share of flour in exports fell from 0.9% to 0.7%. Among individual countries, flour exports to Uzbekistan rose from 426,000 to 536,000 tons, but to Afghanistan fell from 1.36 million to 1.27 million tons. Also, exports to Kyrgyzstan almost tripled, but the volume was an incomparably small 26 thousand tons.

Sunflower, safflower or cottonseed oil (EAEU CN of FEA), which was exported for $338 million, took the third place in terms of exports. The volume of exported oil increased by 55% y/y, although in money exports decreased by 2.4%, which also indicates a decrease in the average selling price. We should also note that imports of the same oil are quite high and amounted to $89 mln, which gives a net export of only $249 mln. By country, the increase in exports is observed in three main countries: Uzbekistan (+62%), Tajikistan (+72%) and China (+92%). We supplied 137 thousand tons of sunflower oil to China against 71.3 thousand tons in 2022. Thus, China is much closer to Uzbekistan, which is the leader in imports of Kazakhstan's oil (158 thousand tons in 2023). It should also be noted that imports of oil decreased by 34% in 2023, which is almost entirely supplied from Russia.

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