Financing Kazakhstan's oil and fats industry: key challenges, competitive advantages

   The article is devoted to the issues of financing the oil and fat industry of Kazakhstan, identifying key problems and determining the directions of their solution. The oil and fat industry is one of the important components of the agro-industrial complex of the country and plays a significant role in supplying the domestic market with food and increasing export potential. However, in recent years, this food segment is facing a number of factors related to insufficient financial support, low investment attractiveness and limited opportunities for production expansion.

   The aim is to analyze the sources and structure of budgeting of the oil and fat industry enterprises, including state support, bank loans and attraction of private investment.

   Methods - monographic, economic and statistical analysis, comparison and synthesis, logical reasoning.

   The data of statistical reporting served as the information base.

   Results - scientific approaches and measures of state subsidization of oil and fat mills are considered. The necessity of further improvement of the legislative base and creation of favorable conditions for the inflow of foreign capital into the oil and fats sector as a criterion for increasing the competitiveness of the oil and fats industry of the republic is shown.

   Conclusions - effective assistance of the state, availability of natural resources and increasing world demand for oilseed crops and products of their processing contribute to capacity building of the oil and fat industry for further growth and development. The results of the research, conclusions and proposals are of interest to researchers and practitioners involved in the organization of exports of agricultural products. The realization of innovative orientation to the technological process will allow to produce high-quality environmentally friendly food products, which enjoy consumer advantages in domestic and foreign markets, to improve the environmental awareness of the population.

1. Aidarov, T.A., Ramashova, A.N., Daurbayeva, M.O. & Mustafayeva, V.I. (2024). Perspective directions of economic cooperation between Kazakhstan and Uzbekistan in the vegetable oils segment. Bulletin of "Turan" University. Available at: https://www.vestnik.turan-edu.kz (date of access: 12. 09. 2024) doi: 10.46914/1562-2959-2024-1-1-170-186 [in Engish].

2. Dhoundiyal, S., Kaur, A. & Alam, A. (2024). Ecological and Economic Aspects of Oil and Fats. Oils and Fats as Raw Materials for Industry. Available at: https://www.wiley.com. doi: 10.1002/9781119910558.ch11 (date of access: 13. 09. 2024) [in English].

3. Peddyreddy, S.R. (2023). Industrial agriculture: complication to solution. Available at: https://www.uniselinus.education/sites/default/files/2023-11/sri%20moulika.pdf (date of access: 13. 09. 2024) [in English].

4. Lobova, S.V., Alekseev, A.N., Bogoviz, A.V. & Ragulina, J.V. (2019). Wireless future of the agrarian market as a basis of food security provision. Studies in Computational Intelligence, 826, 975–981 [in English].

5. Martin, W. & Laborde, D. (2018). The Free Flow of Goods and Food Security and Nutrition. In Global Food Policy Report. Accra: International Food Policy Research Institute, 28-29 [in English].

6. Butakova, M.M., Borisova, O.V. & Goryaninskaya, O.A. (2021). Exports of Vegetable Oils to Asian Markets: Opportunities, Risks, and Prospects. IOP Conference Series: Earth and Environmental Science. Available at: https://www.ui.adsabs.harvard.edu/link_gateway/2021E&ES670a2045B (date of access: 12. 09. 2024) [in English].

7. Butakova, M.M. & Goryaninskaya, O.A. (2020). Eksportnyi vektor razvitiya maslozhirovoi otrasli: regionalnyi aspekt [Export vector of development of the oil and fat industry: regional aspect]. Available at: https://www.10.14258/epb201968 (date of access: 12. 09. 2024) [in Russian].

8. Hadidi, M., Aghababaei, F., & McClements, D.J. (2023). Sunflower meal/cake as a sustainable protein source for global food demand: Towards a zero-hunger world. Food Hydrocolloids. Available at: https://www.research.net. doi: 10.1016/j.foodhyd.2023.109329 (date of access: 12. 09. 2024) [in English].

9. Bobo, G., Nicolau-lapeña, I., & Aguilóaguayo, I. (2021). Conventional Oils and Oilseeds: Composition and Nutritional Importance. Oil and Oilseed Processing: Opportunities and Challenges. Available at: https://www.onkinelibrary.wiley.com. doi: 10.1002/9781119575313.ch2 (date of access: 12. 09. 2024) [in English].

10. Members’ participation in the normal growth of world trade in agricultural products - Article 18.5 of the Agreement on Agriculture. Note by the Secretariat. Committee on Agriculture, WTO. G/AG/W/32/Rev.155 (2016). Available at: https://www.wto.org/english/res_e/publications_e/ai17_e/agriculture_art18_oth.pdf (date of access: 12. 09. 2024) [in English].

11. Shoby, R.A., Romashkina, N.G. & Rybalskogo, N.B. (2023). Obespechenie konkurentosposobnosti, kachestva i bezopasnosti maslozhirovoi produktsii stran EAEU [Ensuring competitiveness, quality, and safety of oil and fat products in the EAEU countries]. Moscow: NIA-Priroda, 142 [in Russian].

12. Kazhieva, Z.Kh. & Zhaylaubaeva, Sh.D. (2020). Analiz sostoyaniya i razvitiya rynka rastitel’nykh masel Vostochnokazakhstanskoi oblasti [Analysis of the state and development of the vegetable oil market in East Kazakhstan region]. Available at: https://www.vestnik.turan-edu.kz. doi: 10.46914/1562-2959-2020-1-3-103-108 (date of access: 12. 09. 2024) [in Kazakh].

13. Ibragimov, Y.M. (2023). Maslozhirovaia otrasl’ igraet kliuchevuiu rol’ v razvitii APK Kazakhstana [The oil and fat industry plays a key role in the development of Kazakhstan’s agro-industrial complex]. Available at: https://www. Informburo.kz/special/yadykar-ibragimov-maslozirovaya-otrasl-igraet-klyucevuyu-rol-v-razvitii-apk-kazaxstana (date of access: 12. 09. 2024) [in Russian].

14. Ibragimov, Y.M. & Romashkin, R.A. (2023). Sostoyanie, vyzovy i perspektivy maslozhirovoi industrii Kazakhstana v kontekste evraziiskoi integratsii [The state, challenges, and prospects of the oil and fat industry of Kazakhstan in the context of Eurasian integration]. Available at: https://www.businesskenes.kz/ru/articles/mezhdunarodnye-transportnye-koridory-i-perspektivy-eksportno--importnoj--agrologisticheskoj-ekosistemy-v-rossii/ (date of access: 01. 10. 2024) [in Russian].

15. Aul, orman, anghshylyq zhane balyq sharuashylyghy statistikasynyñ dinamikalyq qatarlar: mayly daqylardyn zhobaly tuqymyn jynu, mayly daqylardyn óndirishtiñ negizgi daqylardyn naqtylǵan egisalańy. Kazakhstannyñ Respublikasy Strategiyalyq josparlau jäne reformalar agenttigińiñ ulttyq statistika bürosy [Statistics of agriculture, forestry, hunting, and fisheries: dynamic series of oilseed crops, yield, and revised main crop planting areas]. Available at: https://www.stat.gov.kz/ru/industries/business-statistics/stat-forrest-village-hunt-fish (date of access: 01. 10. 2024) [in Kazakh].

16. Kazakstan Respublikasynda aul sharuashylyghy daqylardyn zhobaly jynalý [General harvest of agricultural crops in Kazakhstan]. Kazakhstannyñ Respublikasy Strategiyalyq josparlau jäne reformalar agenttigińiñ ulttyq statistika bürosy. Available at: https://www.stat.gov.kz/ (date of access: 01. 10. 2024) [in Kazakh].

17. Aul sharuashylyghy ministrligi [Ministry of Agriculture]. Available at: https://www.gurk.kz/gu/ministerstvo-selskogo--hozyajstva-respubliki-kazahstan (date of access: 01. 10. 2024) [in Kazakh].

18. Mayly daqylardyn qaýta óndirușilerdiń ulttyq qaýymdastyǵy [National Association of Oilseed Processors]. Available at: https://www.eldala.kz/dannye/kompanii/12323-nacionalnaya-associaciya--pererabotchikov--maslichnyh-kultur (date of access: 17. 09. 2024) [in Kazakh].

19. Aul sharuashylyghy óndirishti damytý jónindegi 2024–2028 jyldarğa arnalğan keshenli jospardy bekitu turaly Qazaqstan Respublikasy Úkimetiniñ 2024 jylğı 28 maýsyndagy № 512 qaulysy [Resolution No. 512 on approving the integrated plan for the development of agriculture processing for 2024–2028]. Available at: https://www.adilet.zan.kz/rus/docs/P2400000512 (date of access: 17. 09. 2024) [in Kazakh].