Unique production: Kazakhstan molasses, which has no analogues in Central Asia.
The sole molasses producer in Kazakhstan is in the very “heart” of corn fields in the Panfilov District of the Almaty Oblast. In January of 2017, the Zharkent Starch Factory launched a new type of products – a glucose-fructose syrup having no analogues in Central Asia. To that effect, the enterprise purchased equipment that allows producing a starch syrup (glucose syrup), which has a low viscosity and colority in comparison with a similar syrup produced only by the acid method. This method enables the raw materials, which do not contain artificial or synthetic substances, and also food additives, to be produced. The product is used in the production of caramel, toffee and other non-crystalline masses.
It should be noted that the glucose syrup production uses no genetically modified raw materials and the enterprise has introduced a corn waste-free processing cycle. Currently, the factory’s capacity is 60 ths. tns. of corn grains per year thus providing jobs for more than 340 persons.
In 2015, according to the research results of the National Business Rating in Kazakhstan, the factory was named “The Industry Leader”. In 2017, the Zharkent Starch Factory was the first in “The Best Industrial Goods” Nomination at the regional stage of the Contest “The Best Goods of Kazakhstan”, and got the President’s “Altyn Sapa” Prize.
As of today, starch products have a high demand in the food, confectionery, light, textile, paper printing, tobacco, brewing and juice industries, and in the production of building materials as well. The factory produces modified starch of 18 types, maltose and glucose syrups, gluten, corn oil, germ, offals, and pelleted forage.
40% of the factory’s products are exported to Russia, China, Kyrgyzstan, Uzbekistan and Tajikistan. To date, the factory has doubled its exports of corn starch and syrup to Uzbekistan due to the support of EIC “KazakhExport” JSC. By the end of the year, the Zharkent Starch Factory LLP plans to export 5,4 ths. tns. of molasses and 3,6 ths. tns. of corn starch to Uzbekistan.
The support of the national company consists in the organization of trade financing provided to the Uzbek buyer for the purchase of products from the Kazakhstan factory. Without the said financing, a scope of supplies would be much less, since the buyer have no large working capital to purchase the total required volume of goods on a prepayment basis.
And usually, not every producer can make deliveries for large sums 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 will be shipped with a deferred payment, the less free working capital will remain. This will slow down the capital turnover, increase the risk of breaking other supplies, reduce profits and so on.
To organize the financing of the transaction concerned, the EIC “KazakhExport” JSC has established partnership relations with one of the Uzbek banks, studied its financial condition and determined a certain amount of limit to the bank for the interbank loan non-repayment risk. For the record, there is currently a positive trend in the Uzbekistan banking sector, and many Uzbek banks are ready to participate in such transactions.