Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan - 2023

Contents:

1. Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan (CIF) - 2023
2. Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan (FOB) - 2022
3. Imports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan
4. Exports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan

Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan (CIF) - 2023

In November 2023, the average import price for enzymes; prepared enzymes not elsewhere specified or includeds amounted to $4,091 per ton, declining by -35.5% against the previous month. Over the period under review, the import price saw a deep downturn. The growth pace was the most rapid in August 2023 when the average import price increased by 75% against the previous month. As a result, import price reached the peak level of $7,992 per ton. From September 2023 to November 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Germany ($43,735 per ton), while the price for Turkey ($2,570 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan (FOB) - 2022

The average export price for enzymes; prepared enzymes not elsewhere specified or includeds stood at $4,211 per ton in 2022, surging by 134% against the previous year. Overall, the export price, however, recorded a significant curtailment. Over the period under review, the average export prices reached the peak figure at $57,010 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2016 to 2022, the rate of growth in terms of prices for Russia amounted to +66.4% per year.

Imports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan

In 2022, the amount of enzymes; prepared enzymes not elsewhere specified or includeds imported into Azerbaijan was estimated at 499 tons, growing by 6.4% against the previous year's figure. The total import volume increased at an average annual rate of +10.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 18% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, imports of enzymes; prepared enzymes not elsewhere specified or includeds rose markedly to $2.5M in 2022. The total import value increased at an average annual rate of +14.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 29% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.

Top Suppliers of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included to Azerbaijan in 2022:

1. Turkey (341.1 tons)
2. Germany (44.3 tons)
3. Denmark (25.7 tons)
4. Finland (23.9 tons)
5. United Kingdom (16.6 tons)
6. United States (16.1 tons)
7. Hong Kong SAR (10.9 tons)
8. Belgium (5.3 tons)
9. China (4.0 tons)

Exports of Enzymes; Prepared Enzymes Not Elsewhere Specified or Included in Azerbaijan

In 2022, approx. 3.6 tons of enzymes; prepared enzymes not elsewhere specified or includeds were exported from Azerbaijan; with an increase of 321% on 2021 figures. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of enzymes; prepared enzymes not elsewhere specified or includeds skyrocketed to $15K in 2022. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Enzymes; Prepared Enzymes Not Elsewhere Specified or Included from Azerbaijan in 2022:

1. Russia (3.6 tons)

Source: IndexBox Market Intelligence Platform