Kazakhstan, hit hard by the oil price crash, hopes to boost export revenues by offering a new product, powdered mare's milk, on global markets.

"Processed milk from just 100,000 mares can generate product worth $1 billion (a year)," Agriculture Minister Asylzhan Mamytbekov wrote on his Facebook page on Friday, adding there were almost 2 million horses in the steppe nation the size of Western Europe.

"Thus, the national drink can become a major source of export revenues which is very important in today's situation."

Kazakhstan's foreign currency revenues have dropped by two-thirds because of the plunge in oil prices, its central bank said this week. The milk product is branded under the name Saumed.

Kazakh astronaut Aidyn Aimbetov took some powdered horse milk with him to the International Space Station last September.

Kazakhs mostly consume horse milk in its fermented form, known as kumys, but the sour and slightly alcoholic drink is hard to ship long distances as it spoils quickly.

Kazakhstan produces about 80 million tonnes of oil annually, but has seen its price fall from highs of over $100 to below $30 per barrel. Its tenge currency has lost more than half of its value against the dollar since last August.