Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan (CIF) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan (FOB) - 2023
3. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan
4. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan (CIF) - 2023

In November 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,624 per ton, with an increase of 6.4% against the previous month. Overall, the import price, however, showed a noticeable slump. Over the period under review, average import prices attained the maximum at $2,209 per ton in November 2022; however, from December 2022 to November 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Ukraine ($2,838 per ton), while the price for Kazakhstan ($1,380 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Ukraine (-0.8%), while the prices for the other major suppliers experienced a decline.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan (FOB) - 2023

The average export price for liquid margarine and edible mixtures of animal or vegetable fats stood at $1,713 per ton in November 2023, rising by 2% against the previous month. Overall, the export price, however, recorded a mild shrinkage. The pace of growth was the most pronounced in March 2023 when the average export price increased by 11% against the previous month. Over the period under review, the average export prices reached the maximum at $2,000 per ton in November 2022; however, from December 2022 to November 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In November 2023, the country with the highest price was Iraq ($1,782 per ton), while the average price for exports to Georgia stood at $1,552 per ton.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+0.5%).

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan

Imports of liquid margarine and edible mixtures of animal or vegetable fats into Azerbaijan surged to 25K tons in 2022, picking up by 17% against the previous year. The total import volume increased at an average annual rate of +5.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats soared to $49M in 2022. Over the period under review, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Azerbaijan in 2022:

1. Russia (21.3K tons)
2. Kazakhstan (1.4K tons)
3. Ukraine (0.9K tons)
4. Turkey (0.7K tons)

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Azerbaijan

In 2022, shipments abroad of liquid margarine and edible mixtures of animal or vegetable fats decreased by -51.9% to 554 tons, falling for the second consecutive year after two years of growth. Overall, exports showed a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 12% against the previous year. As a result, the exports reached the peak of 1.2K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats reduced sharply to $1.1M in 2022. In general, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, the exports attained the peak of $1.7M, and then declined rapidly in the following year.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Azerbaijan in 2022:

1. Georgia (524.6 tons)
2. Ukraine (18.9 tons)
3. Russia (10.0 tons)

Source: IndexBox Market Intelligence Platform