Azerbaijan: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in Azerbaijan

In 2022, the Azerbaijani market for crude sunflower-seed and safflower oil increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in Azerbaijan

In value terms, crude sunflower-seed and safflower oil production rose remarkably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports from Azerbaijan

In 2022, exports of crude sunflower-seed and safflower oil from Azerbaijan declined rapidly to X kg, waning by X% compared with the year before. Over the period under review, exports saw a sharp slump. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil exports contracted remarkably to $X in 2022. Overall, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X kg) was the main destination for crude sunflower-seed and safflower oil exports from Azerbaijan, with a approx. X% share of total exports.

From 2014 to 2022, the average annual rate of growth in terms of volume to Georgia totaled X%.

In value terms, Georgia ($X) also remains the key foreign market for crude sunflower-seed and safflower oil exports from Azerbaijan.

From 2014 to 2022, the average annual rate of growth in terms of value to Georgia stood at X%.

Export Prices by Country

In 2022, the average export price for crude sunflower-seed and safflower oil amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

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

From 2014 to 2022, the rate of growth in terms of prices for Georgia amounted to X% per year.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports into Azerbaijan

In 2022, the amount of crude sunflower-seed and safflower oil imported into Azerbaijan shrank notably to X tons, declining by X% against 2021 figures. Overall, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, crude sunflower-seed and safflower oil imports contracted to $X in 2022. Over the period under review, imports, however, saw a measured expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of crude sunflower-seed and safflower oil to Azerbaijan, accounting for a X% share of total imports. Moreover, crude sunflower-seed and safflower oil imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at X%.

In value terms, Russia ($X) constituted the largest supplier of crude sunflower-seed and safflower oil to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia totaled X%.

Import Prices by Country

The average import price for crude sunflower-seed and safflower oil stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price continues to indicate buoyant growth. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Russia totaled $X per ton.

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

Source: IndexBox Platform

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