I & S INNOVATION & SUSTAINABILITY
6 October 2016

"EFKO ALMATY" told about the oil branch development prospects of the Republic of Kazakhstan

6 October 2016, Almaty, Kazakhstan – Director of LLP "EFKO ALMATY", one of the largest Fat&Oil enterprises in Kazakhstan, took part in the work of the Russian-Kazakhstan business forum, organized under the XIII forum of interregional cooperation of Russia and Kazakhstan with participation of heads of two states in Astana, and told about the oil branch development prospects of the Republic.

astana_2.jpg3-4 October 2016 in Astana under the XIII forum of interregional cooperation of Kazakhstan and Russia was held the Kazakh-Russian business forum with participation of officials and business circles of the two countries. The President of the Republic of Kazakhstan Nursultan Nazarbayev, the President of the Russian Federation Vladimir Putin and more than 1300 representatives of public authorities and major Kazakhstani and Russian companies attended the event.

EFKO is one of the largest Russian investors in Kazakhstan's economy and, since last year, sells in the Republic the project of creating a unique Fat&Oil cluster. During the panel session of the business forum, the head of LLP "EFKO ALMATY" Nurzhan Kozhamuratov told about successes and prospects of oil branch development of the Republic. "Due to the production modernization and the world technologies transfer, we promptly managed to establish production of fats and margarines, which meet the highest international standards. This allowed not only to close the internal needs of the Republic, but also to begin deliveries of Kazakhstani products for export to the Central Asia countries. We began to ship the vegetable oil in China – it ‘s a huge market with a great potential, and we are in active negotiations about the deliveries of oil and meal in countries of Central Asia and Iran", – he said, stressing that in many respects these successes were possible due to the perfect conditions for investors created in the country and project support from the state.

astana.jpgHowever, there are some factors that constrain development of Fat&Oil industry of Kazakhstan and export potential expansion of the Republic. Among them Nurzhan mentioned an acute shortage of raw materials, associated with low seed yield and small gross yield, as well as zero duty on oilseeds, which creates the prerequisites for export to neighboring countries.

"The Fat&Oil industry of the Republic has an enormous potential, as well in terms of export development. While for Kazakhstan exports of vegetable oils and their derivatives as products with additional added value, the production of which creates workplaces inside the country, is more interesting export position than the export of oilseeds", – he said and asked to consider a possible mechanism of protection for the internal processors of the Republic. A possible solution would be to support only those volumes of grown oilseeds, which will be placed for processing in Kazakhstan.

It should be noted that in July under the national teleconference the President of Kazakhstan Nursultan Nazarbayev spoke about the importance of increasing land area for cultivation of oil crops and the importance of improving the production quality of the oil as a competitive export product.

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