China – main importer of Kazakhstan’s vegetable oils
According to the results of 2018/19 marketing year, China has remained one of the largest importers of vegetable oils from Kazakhstan, significantly increasing purchases of certain types of products, Strategy2050.kz reports.
So, last season China purchased the full quantity of flaxseed oil exported from Kazakhstan - 31 thousand tons. Moreover, this indicator was almost 1.5 times higher than the similar result of 2017/18 MY.
In addition, Kazakhstan shipped almost all rapeseed oil (93% of exports) in this direction - 45 thousand tons, which is 2.4 times higher than the volume purchased by China in the 2017/18 season.
China has also retained a leading position among exporters of sunflower oil with a share of 36%, despite the fact that purchases were reduced by 8% compared to the previous season. So, 25 thousand tons of Kazakhstani product were shipped to China. It is worth noting that the decline in exports in this direction was compensated by Uzbekistan, which imported 23 thousand tons of sunflower oil from Kazakhstan (+ 38% compared to 2017/18 MY).
A more significant reduction in purchases by China occurred in the soybean oil segment (-24%). The imported volume amounted to only 1.6 thousand tons, which, nevertheless, allowed China to remain in second place with a share of 14%, after Uzbekistan (10 thousand tons), in the ranking of the main importers of the product from Kazakhstan
Will China remain the main market for vegetable oils for Kazakhstan and what Chinese oil industry experts expect from the new season? CEO of Yihai Kerry (Shanghai) International Trading Co. Ltd. Fang Gang will talk about it during the III International Conference KazOil 2019, which will be held on November 5 in Nur-Sultan (Kazakhstan).
