Kazakh oil conquers the Japanese market
16.11.2024 18:19:58 2139
First Vice Minister of Trade and Integration of the Republic of Kazakhstan Aizhan Bizhanova held a meeting with representatives of the Japanese company Jateco to discuss the prospects for exporting Kazakhstani linseed and other oils to the Land of the Rising Sun. The demand for Kazakh flaxseed oil in Japan turned out to be significantly higher than expected - Japanese consumers highly appreciated the quality of this product, which, according to Anton Kim, director of the Jateco company, is particularly popular due to its health-improving properties.
Today, Kazakh flaxseed oil has already gained the trust of the Japanese and has become an integral part of their daily diet. Japan's annual demand for linseed oil reaches about 10 thousand tons, which significantly exceeds current supplies from Kazakhstan. In order to respond to the growing demand, Jateco plans to increase imports of Kazakh linseed oil to 3 thousand tons per year in the near future, and also consider the possibility of expanding supplies of safflower and cottonseed oils.
Logistics issues became one of the key topics at the meeting. First Vice Minister of Trade and Integration of the Republic of Kazakhstan Aizhan Bizhanova expressed confidence that Kazakhstan is striving to strengthen stable trade turnover with Asian countries. She suggested holding working meetings with the Ministry of Transport of the Republic of Kazakhstan and the National Company KTZ in order to optimize transport routes and reduce waiting times for Japanese partners. These are steps that will help make cooperation more effective and beneficial for all parties.
It is worth noting that according to the results of the first 9 months of 2024, Kazakhstan showed a significant increase in exports of vegetable oils. So, in January-August, 93 tons of oil worth 122.4 thousand US dollars were exported to Japan, which is 4.5 times higher than in the same period last year. Linseed and sunflower oils make up the bulk of exports, providing Kazakhstan with a strong position in the global market. In general, the total volume of Kazakhstan's trade turnover in this sector has reached $ 321.9 million, of which $ 297.5 million is accounted for exports.
Safflower and cottonseed oils are also of interest to the Japanese market, the annual demand for which is 4 thousand and 5 thousand tons, respectively. The Jateco company announced its intention to increase the supply of safflower oil to 1 thousand tons and cotton oil to 2.5 thousand tons, which can open up new prospects for Kazakhstani producers and strengthen cooperation between the countries.
Aizhan Bizhanova expressed gratitude to the Japanese partners for their interest in Kazakhstani goods and stressed the importance of further deepening trade and economic cooperation with Japan.

Source : https://www.gov.kz/memleket/entities/mti/press/news/details/875181