Castor Oil Seed Price in Azerbaijan - 2023
Contents:
Castor Oil Seed Price in Azerbaijan (CIF) - 2022
In 2022, the average castor oil seed import price amounted to $4,645 per ton, picking up by 26% against the previous year. Overall, the import price showed a tangible expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 40% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($9,600 per ton), while the price for India ($3,065 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+34.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Castor Oil Seed Imports in Azerbaijan
In 2022, castor oil seed imports into Azerbaijan shrank dramatically to 1.4 tons, reducing by -77.9% compared with the previous year's figure. Overall, imports showed a sharp slump. The most prominent rate of growth was recorded in 2021 with an increase of 152%. As a result, imports reached the peak of 6.2 tons, and then contracted remarkably in the following year.
In value terms, castor oil seed imports plummeted to $6.4K in 2022. Over the period under review, imports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2021 with an increase of 208%. As a result, imports attained the peak of $23K, and then dropped sharply in the following year.
| Import of Castor Oil Seed in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 11.5 | 0.4 | 8.7 | 2.2 | -42.4% |
| India | 1.3 | 3.1 | 3.9 | 2.0 | 15.4% |
| Ukraine | N/A | N/A | N/A | 1.3 | 0% |
| Italy | N/A | 0.2 | N/A | 0.6 | 73.2% |
| Turkey | 2.0 | 1.5 | 7.4 | 0.1 | -63.2% |
| Sri Lanka | 1.9 | 0.8 | 0.4 | N/A | -54.1% |
| Iran | 1.8 | 1.3 | 2.1 | N/A | 8.0% |
| Others | 0.3 | 0.2 | 0.2 | 0.1 | -30.7% |
| Total | 18.8 | 7.4 | 22.8 | 6.4 | -30.2% |
Top Suppliers of Castor Oil Seed to Azerbaijan in 2022:
- India (650.0 kg)
- Russia (329.0 kg)
- Italy (200.0 kg)
- Ukraine (135.0 kg)
- Turkey (38.0 kg)
- Sri Lanka (1.0 kg)
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