KazakhExport in media
THE KAZAKHSTAN MOLASSES HAS NO ANALOGUES IN CENTRAL ASIA
The unique production is located in the Almaty Oblast.
The only molasses producer in Kazakhstan is located in the very “heart” of corn fields – the Panfilov District of the Almaty Oblast. In January of 2017, the Zharkent Starch Plant launched a new type of product – a glucose and fructose syrup, which has no analogues in Central Asia. To that effect, the Company purchased equipment that allowed producing starch syrup (glucose syrup), which had a low viscosity and color in comparison with similar molasses only produced by the acid method. This method allows producing raw materials that do not contain artificial or synthetic substances and food additives as well. The product is used in the production of caramel, toffee and other non-crystalline masses.
It should be noted that in the production of glucose syrup, genetically modified raw materials are not used and the Company has created a cycle of waste-free processing of corn. Currently, the plant’s capacities are 60 ths. tons of corn grain per year, thus, providing jobs for more than 340 persons.
In 2015, following the research results of the National Business Rating in Kazakhstan, the Plant was named the “Industry Leader”. In 2017, the Zharkent Starch Plant won the first place in the category “The Best Industrial Goods” of the regional stage of the Contest “The Best Goods of Kazakhstan”, and also got the President's Award “Altyn Sapa”.
For today, starch products have a high demand in the food, confectionery, light, textile, paper, printing, tobacco, brewing and juice industries, as well as in the production of building materials. The Plant produces modified starch of 18 types, maltose and glucose syrups, gluten, corn oil, germ, bran, and granulated feed.
40% of the Plant’s products are exported to Russia, China, Kyrgyzstan, Uzbekistan and Tajikistan. To date, the Plant has doubled export volumes of corn starch and molasses to Uzbekistan with the assistance of JSC KazakhExport EIC. By the end of the year, The Zharkent Starch Plant LLP plans to export 5,4 ths. tons of molasses and 3,6 ths. tons of corn starch to Uzbekistan.
The support of the National Company consists in the organization of trade financing provided to the Uzbek buyer to purchase products of the Kazakhstan Plant. Without the financing, the supply volumes would have been much less, since the buyer has no large working capital to purchase the entire required volume of goods on a prepaid basis.
However, usually not every manufacturer can supply large amounts without prepayment for two reasons. Firstly, owing to the risk of not receiving payment for the goods in due time. And secondly, the more goods are shipped with a deferred payment, the less free working capital will remain. This will slow down the turnover of capital, increase the risk of disruption of other supplies, reduce profits and so on.
To organize the financing of the said transaction, KazakhExport EIC JSC established partnership relations with one of the Uzbek banks, studied its financial condition and set a certain limit on the risk of non-return of an interbank loan. By the way, there is currently a positive trend in the banking sector of Uzbekistan, and many Uzbek banks are ready to participate in such transactions.