ASTANA – China National Materials Group Corporation Sinoma recently announced it will buy annually a range of agricultural products from Kazakhstan, according to the press service of the Kazakh Ministry of Agriculture.
This year, China will purchase sunflower in the amount of 50,000 tonnes, 80,000 tonnes of flaxseed, 100,000 tonnes of oilseed rape as well as vegetable oils in the amount of 90,000 tonnes, reported Kapital.kz.
“The corporation appreciates the quality of Kazakhstan’s agricultural products and plans to sell it as goods of the premium class in China,” stated the press release.
An agreement was reached during a recent meeting of Kazakh Deputy Minister of Agriculture Gulmira Issayeva and Chairman of Sinoma Khan Ryumin in which the sides also discussed additional Chinese investment in the Kazakh agriculture.
The two parties signed a joint plan with an intention of Sinoma to purchase 180,000 tonnes of oilseeds and 90,000 tonnes of vegetable oil this year.
Negotiations on export of agricultural products Kazakhstan to China, including vegetable oil, corn oil, grain legumes, vine crops, vegetables, fruits and beef, lamb, honey will continue.
Sinoma intends to invest in the modernisation of existing and the creation of new enterprises for agricultural product processing in Kazakhstan, starting with investments in a plant with a capacity of processing 40,000 tonnes of oil.