Source: Oleoscope (Russia)
In July 2024, the monthly inflation rate in Kazakhstan was 0.7% (compared to 0.4% in June this year). According to the National Statistics Office, food prices rose by 0.2%, writes Forbes Kz.
On an annual basis, the index amounted to 8.6%, in particular, food inflation amounted to 5.5%. Among the goods that have fallen in price mainly sunflower oil – by 20.8%, olive oil, on the contrary, increased in price by 20.2%.
It should be recalled that in the republic from February 1, 2023, an export duty will be imposed on the export of sunflower seeds in the amount of 20% of the value of the cargo, but not less than 100 euros per ton. Producers will receive subsidies of up to KZT 22,000 per tonne for processing in domestic oil refineries. The NAPMK expects exports of oil and fat products to reach 1 million tons, which would be a record in the country’s history.