Astana Hosts the First International Oil and Fat Conference of Kazakhstan KazOil 2017

Astana Hosts the First International Oil and Fat Conference of Kazakhstan KazOil 2017

Astana hosts the First International Oil and Fat Conference of Kazakhstan KazOil 2017, which brought together more than 200 participants from 19 countries. The list of speakers includes a number of recognized Kazakhstani and foreign experts: representatives of the Ministry of Agriculture; Sayat Shortan, the national consultant of the UN Food and Agriculture Organization (FAO); Nurlan Ospanov, the Chairman of the Grain Union of Kazakhstan ALE; Saule Imanova, the IFS representative; and Narmukhan Sarybayev, the Chairman of the Board of Agrarian Credit Corporation.

In recent years, the agriculture has been changing priorities and actively developing oil-bearing crops. The state policy aimed at diversification of crops and subsidizing the cultivation of oil-bearing crops leads to a decrease in the share of imports in this sector and the development of own processing industry. As a result, in recent years the oil and fat industry of Kazakhstan has been experiencing a significant growth. Thus, according to the results of 2016/2017, the production of oil-bearing crops was a record 1.9 million tons, which is higher than the average value for the period 2012-2016 by 27%. In 2017, the sown areas for oil-bearing crops exceeded the value of the previous year by 22% and amounted to 2.48 million hectares. The processing sector of Kazakhstan shows an upward trend as well. According to the results of 2016/17, the volume of sunflower processing amounted to a record 485 thousand tons, which exceeded the value of the previous season by 36.6%.

Within the framework of the event, a Memorandum of Cooperation was signed between the Agrarian Credit Corporation JSC and the Fat-and-Oil Union of Kazakhstan Association of Legal Entities.

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