Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan - 2023

Contents:

1. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan (FOB) - 2023
2. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan (CIF) - 2023
3. Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan
4. Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan (FOB) - 2023

In December 2023, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $750 per ton, almost unchanged from the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 an increase of 18% m-o-m. The export price peaked at $928 per ton in July 2023; however, from August 2023 to December 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Georgia ($1,177 per ton), while the average price for exports to Turkmenistan ($729 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan (CIF) - 2023

In December 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $664 per ton, declining by -6.7% against the previous month. In general, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 488% against the previous month. Over the period under review, average import prices reached the maximum at $4,481 per ton in May 2023; however, from June 2023 to December 2023, import prices stood at a somewhat lower figure.

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

From December 2022 to December 2023, the rate of growth in terms of prices for Russia amounted to -16.2% per month.

Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan

Exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose from Azerbaijan shrank to 55K tons in 2022, with a decrease of -7.2% compared with the year before. In general, exports showed a noticeable setback. The smallest decline of -2.2% was in 2020.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose soared to $39M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +13.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Azerbaijan in 2022:

1. Kazakhstan (20.5K tons)
2. Turkmenistan (20.0K tons)
3. Georgia (13.0K tons)
4. Russia (0.9K tons)
5. Kyrgyzstan (0.4K tons)

Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Azerbaijan

In 2022, purchases abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -97.3% to 403 tons, falling for the second consecutive year after two years of growth. In general, imports showed a dramatic slump. The most prominent rate of growth was recorded in 2020 when imports increased by 14% against the previous year. As a result, imports attained the peak of 140K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose fell remarkably to $406K in 2022. Overall, imports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 2.2% against the previous year. As a result, imports reached the peak of $50M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Azerbaijan in 2022:

1. Ukraine (213.3 tons)
2. Russia (71.2 tons)
3. Finland (48.1 tons)
4. Turkey (31.7 tons)
5. Germany (9.4 tons)
6. Iran (7.9 tons)

Source: IndexBox Market Intelligence Platform