Gum Arabic Price in Azerbaijan - 2023

Gum Arabic Price in Azerbaijan (CIF) - 2022

The average gum arabic import price stood at $5,157 per ton in 2022, growing by 15% against the previous year. Overall, the import price saw a noticeable expansion. The growth pace was the most rapid in 2013 when the average import price increased by 372% against the previous year. As a result, import price attained the peak level of $16,092 per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($11,754 per ton), while the price for Germany ($3,627 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Gum Arabic Imports in Azerbaijan

In 2022, gum arabic imports into Azerbaijan skyrocketed to 12 tons, with an increase of 107% on 2021. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 169%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, gum arabic imports surged to $62K in 2022. Over the period under review, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Gum Arabic in Azerbaijan (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	6.9	6.1	17.5	46.5	88.9%
Italy	3.3	2.2	0.5	6.2	23.4%
Turkey	0.1	0.9	0.1	5.3	275.6%
Germany	0.3	1.5	7.9	3.8	133.1%
Others	N/A	0.4	N/A	0.3	-13.4%
Total	10.6	11.1	26.0	62.2	80.4%