Azerbaijan - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingVegetable Oils Price in Azerbaijan - 2023
Contents:
- Vegetable Oils Price in Azerbaijan (FOB) - 2023
- Vegetable Oils Price in Azerbaijan (CIF) - 2023
- Vegetable Oils Exports in Azerbaijan
- Vegetable Oils Imports in Azerbaijan
Vegetable Oils Price in Azerbaijan (FOB) - 2023
In May 2023, the average vegetable oils export price amounted to $1,981 per ton, standing approximately at the previous month. In general, the export price, however, showed a mild curtailment. The growth pace was the most rapid in January 2023 an increase of 11% against the previous month. The export price peaked at $2,510 per ton in September 2022; however, from October 2022 to May 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In May 2023, the country with the highest price was Turkmenistan ($2,168 per ton), while the average price for exports to Iraq amounted to $1,900 per ton.
From July 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (0.0%), while the prices for the other major destinations experienced a decline.
Vegetable Oils Price in Azerbaijan (CIF) - 2023
The average vegetable oils import price stood at $2,068 per ton in May 2023, waning by -4.3% against the previous month. In general, the import price recorded a mild descent. The growth pace was the most rapid in March 2023 when the average import price increased by 23% against the previous month. Over the period under review, average import prices attained the maximum at $2,873 per ton in August 2022; however, from September 2022 to May 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In May 2023, the country with the highest price was Switzerland ($2,879 per ton), while the price for Iran ($1,100 per ton) was amongst the lowest.
From July 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Switzerland (0.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Vegetable Oils Exports in Azerbaijan
In 2022, after three years of growth, there was significant decline in overseas shipments of vegetable fats and oils, when their volume decreased by -31.8% to 4.8K tons. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2020 when exports increased by 8.6% against the previous year.
In value terms, vegetable oils exports shrank to $11M in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $11M, and then contracted in the following year.
Export of Vegetable Oils in Azerbaijan (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Iraq | 3.1 | 3.5 | 3.9 | 5.6 | 21.8% |
Georgia | 2.3 | 2.4 | 3.4 | 1.9 | -6.2% |
Uzbekistan | 0.2 | 0.4 | 1.4 | 1.3 | 86.6% |
Turkey | N/A | N/A | N/A | 0.8 | 0% |
Turkmenistan | 0.8 | 1.0 | 1.0 | 0.5 | -14.5% |
Kazakhstan | 0.2 | 0.2 | 0.3 | 0.5 | 35.7% |
Kyrgyzstan | 0.6 | 0.5 | 0.7 | 0.3 | -20.6% |
Others | N/A | 0.2 | 0.7 | N/A | 250.0% |
Total | 7.3 | 8.1 | 11.4 | 10.8 | 13.9% |
Top Export Markets for Vegetable Oils from Azerbaijan in 2022:
- Iraq (2605.9 tons)
- Georgia (811.5 tons)
- Uzbekistan (511.1 tons)
- Turkey (312.0 tons)
- Turkmenistan (231.5 tons)
- Kazakhstan (206.2 tons)
- Kyrgyzstan (122.2 tons)
Vegetable Oils Imports in Azerbaijan
In 2022, the amount of vegetable fats and oils imported into Azerbaijan surged to 1.8K tons, picking up by 24% compared with the year before. In general, imports recorded a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of 72% against the previous year. As a result, imports reached the peak of 2.6K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, vegetable oils imports skyrocketed to $4.5M in 2022. Overall, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Vegetable Oils in Azerbaijan (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Russia | 1,149 | 2,028 | 1,649 | 2,498 | 29.5% |
Sweden | N/A | 3.4 | N/A | 877 | 1506.1% |
Malaysia | 170 | 397 | 414 | 504 | 43.7% |
Indonesia | 69.7 | N/A | N/A | 265 | 56.1% |
Turkey | 185 | 219 | 147 | 246 | 10.0% |
Others | 119 | 31.9 | 7.6 | 66.1 | -17.8% |
Total | 1,693 | 2,679 | 2,218 | 4,456 | 38.1% |
Top Suppliers of Vegetable Oils to Azerbaijan in 2022:
- Russia (1016.5 tons)
- Sweden (355.2 tons)
- Malaysia (177.0 tons)
- Turkey (103.2 tons)
- Indonesia (90.5 tons)
This report provides an in-depth analysis of the vegetable oils market in Azerbaijan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
Country coverage:
- Azerbaijan
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Azerbaijan
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the vegetable oils market in Azerbaijan.
This report provides an in-depth analysis of the animal fats market in Azerbaijan.
This report provides an in-depth analysis of the global vegetable oils market.
This report provides an in-depth analysis of the global animal fats market.
This report provides an in-depth analysis of the vegetable oils market in Azerbaijan.
This report provides an in-depth analysis of the animal fats market in Azerbaijan.
This report provides an in-depth analysis of the global vegetable oils market.
This report provides an in-depth analysis of the global animal fats market.
This article provides key statistics and insights into the best import markets for vegetable oils. China leads the way, followed by Germany, Malaysia, the United States, Poland, Denmark, France, Thailand, Belgium, and the Netherlands. The global market for vegetable oils continues to expand due to factors such as increasing health consciousness and the versatility of these oils in culinary applications.
This article provides key statistics and insights into the best import markets for vegetable oils. China leads the way, followed by Germany, Malaysia, the United States, Poland, Denmark, France, Thailand, Belgium, and the Netherlands. The global market for vegetable oils continues to expand due to factors such as increasing health consciousness and the versatility of these oils in culinary applications.