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Kazakhstan Oils and Fats Association predicts sunflower oil prices will fall

 Last Update: 2021-07-31
 Source: Internet
 Author: User

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LS Net reported on June 30 that Nevzorov, chairman of the Kazakhstan Oils and Fats Association, said in an interview with the media recently that the price of sunflower oil raw materials is falling, and the purchase price has fallen from the previous US$1500-1600/ton to US$1150-1200
.
It is expected that the retail price of sunflower oil will drop accordingly, and in another 1-2 months, the retail price of sunflower oil will drop by 100-200 tenge/liter
.

Nee believes that because Russian producers are expected to lower the price of sunflower oil soon, for Kazakhstan oil companies, even if the purchase price was high before, they will cut prices accordingly to maintain market competitiveness
.
The downward trend in prices is expected to continue until the end of the harvest season, namely October-November in Kazakhstan and September-October in Russia
.

According to data released by the National Bureau of Statistics of Kazakhstan, as of the end of June 2021, the average retail price of ha sunflower oil was 713 tenge/liter, an increase of 24% from the beginning of the year and a year-on-year increase of 63.
2%
.
The areas with the most expensive average sunflower oil prices include Turkistan (773 tenge), Almaty (767 tenge) and Nur-Sultan (751 tenge); the area with the cheapest average price is Akto Other cities (621 tenge), Petropavlovsk (627 tenge) and Taraz (631 tenge)
.

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