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Uzbekistan's oil industry status, development prospects and investment opportunities

Date:Oct 30th, 2020
Uzbekistan is the world’s sixth largest cotton producer and the second largest cotton exporter. The oil industry is an important part of Uzbekistan’s food industry, including the production of oil crops, the production and processing of vegetable oils, and the processing of various products. Food and industrial vegetable oils, margarine products, industrial fats, mayonnaise, glycerin, distilled fatty acids, detergents, etc. The oil industry is also a major supplier of high-protein feeds for the agricultural economy.

The Uzbek government attaches great importance to the development of the food industry. Although the technical equipment level of Uzbek enterprises is aimed at processing cottonseeds, the government still began to import soybeans and successfully completed soybean processing technology. The state continues to develop the planting and processing industries of safflower seeds, sunflower seeds, flax seeds, sesame seeds, fruits and nuts and other local non-traditional oil seeds.

So far, Uzbekistan has more than 240 oil and fat companies with more than 15,000 employees. In 2019, it produced nearly 280,000 tons of vegetable oil and 650,000 tons of oilseed meal.

The current total oilseed processing capacity of oil companies exceeds 4.39 million tons, including 3.59 million tons of cottonseeds and more than 800,000 tons of soybeans and sunflower seeds. According to recent statistics, the processing capacity will increase in the next few years, but the cottonseed processing capacity will continue to decline rapidly.

It is worth noting that by 2022, the annual processing capacity of sunflower seeds will reach nearly 1.1 million tons. The most positive trends in the report's direction appear in the Fergana Valley, Tashkent and Samarkand regions, and the capital Tashkent. Therefore, it is expected that Uzbekistan will develop the production of a variety of new products and sell them in the domestic market, which will balance the consumer market and reduce the main cost of goods and revenue growth.