Report Update Apr 1, 2024

Azerbaijan - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Azerbaijan: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Azerbaijan

In 2022, the Azerbaijani refined maize oil market increased by X% to $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, recorded a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Maize Oil Production in Azerbaijan

In value terms, refined maize oil production fell modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Refined Maize Oil Exports

Exports from Azerbaijan

In 2022, shipments abroad of refined maize (corn) oil decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined maize oil exports stood at $X in 2022. Over the period under review, exports faced a sharp slump. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X tons) was the main destination for refined maize oil exports from Azerbaijan, with a X% share of total exports. It was followed by Pakistan (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Georgia stood at X%.

In value terms, Georgia ($X) remains the key foreign market for refined maize (corn) oil exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports.

From 2012 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 refined maize oil export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, showed a mild reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Pakistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (X%).

Refined Maize Oil Imports

Imports into Azerbaijan

After two years of decline, supplies from abroad of refined maize (corn) oil increased by X% to X tons in 2022. Over the period under review, imports recorded resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined maize oil imports soared to $X in 2022. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Russia (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of refined maize oil imports to Azerbaijan, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Turkey ($X) and Italy ($X) appeared to be the largest refined maize oil suppliers to Azerbaijan, with a combined X% share of total imports.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price 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, refined maize oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and Ukraine ($X per ton), while the price for Russia ($X per ton) and Turkey ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined maize (corn) oil in the world?

China remains the largest refined maize oil consuming country worldwide, comprising approx. 18% of total volume. Moreover, refined maize oil consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 7.1% share.

What are the largest producers of refined maize (corn) oil in the world?

The country with the largest volume of refined maize oil production was China, accounting for 18% of total volume. Moreover, refined maize oil production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 7.4% share.

What are the leading suppliers of refined maize (corn) oil to Azerbaijan?

In value terms, Russia, Turkey and Italy constituted the largest refined maize oil suppliers to Azerbaijan, together accounting for 99% of total imports.

What are the leading importers of refined maize (corn) oil from Azerbaijan?

In value terms, Georgia remains the key foreign market for refined maize corn) oil exports from Azerbaijan, comprising 97% of total exports. The second position in the ranking was taken by Pakistan, with a 2% share of total exports.

What is the average export price for refined maize (corn) oil in Azerbaijan?

The average refined maize oil export price stood at $2,736 per ton in 2022, with an increase of 39% against the previous year.

What is the average import price for refined maize (corn) oil in Azerbaijan?

The average refined maize oil import price stood at $2,328 per ton in 2022, jumping by 15% against the previous year.

This report provides an in-depth analysis of the refined maize oil 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 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)

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
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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
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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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023