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    Kazakhstan

    Kazakhstan reduces prices of flour and oil for export

    Kazakhstan reduces prices of flour and oil for export

    Kazakhstan reduced prices for exported flour and oil, resulting in a 10.9% drop in export value in June.

    Prices fell 8.6% within the CIS and 11.6% for other countries, media reports.

    Zinc ores and concentrates saw the most significant price drop at 34.5%.

    Plastics and plastic products, ferrous metals, crude oil, and petroleum products also decreased significantly at 26.2%, 19.5%, and 16.6%, respectively.

    In the food category, prices of sugar and confectionery decreased by 24.8%, while beverage prices (both alcoholic and non-alcoholic) fell by 17.8% and wheat flour prices by 8.9%.

    Exports from Kazakhstan have shown price increases, with semi-finished iron products rising by 36.4%, oil gases by 20.8%, hydrogen by 19.8%, and cotton by 13.7%.

    The prices of dairy products, eggs, live animals, animal products, wheat, and meslin rose by 13.5%, 8.9%, and 4.2%, respectively.

    According to TradingEconomy, Kazakhstan's economy relies heavily on exporting oil and related products, which account for 73% of its total exports. Other exports include ferrous metals, copper, aluminum, zinc, and uranium. The country's main export partners are Italy (18%), China (12%), Netherlands (11%), Russia (10%), and France (6%), with other partners including Switzerland, Ukraine, and Canada.

    Earlier, Daryo reported that Kazakhstan's export industry has declined by more than 15% in the past six months, resulting in a total of $32.6bn.

    Follow Daryo's official Instagram and Threads pages to keep up to date on world news.

    20.08.2023, 09:21   Comments (0)   1688
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