Azerbaijan: Apricot Market 2024

Apricot Market Size in Azerbaijan

In 2022, the Azerbaijani apricot market decreased by -4.7% to $X, falling for the third year in a row after five years of growth. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.4% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Apricot Production in Azerbaijan

In value terms, apricot production reduced to $X in 2022 estimated in export price. In general, production, however, recorded resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 41%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of apricots in Azerbaijan totaled X tons per ha in 2022, approximately mirroring 2021. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 4.8% against the previous year. The apricot yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the apricot harvested area in Azerbaijan declined to X ha, waning by -1.9% compared with 2021. The harvested area increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 6% against the previous year. The apricot harvested area peaked at X ha in 2021, and then declined slightly in the following year.

Apricot Exports

Exports from Azerbaijan

In 2022, shipments abroad of apricots increased by 26% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of 573% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, apricot exports soared to $X in 2022. Overall, exports recorded resilient growth. The growth pace was the most rapid in 2017 with an increase of 659%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X tons) was the main destination for apricot exports from Azerbaijan, with a 91% share of total exports. Moreover, apricot exports to Russia exceeded the volume sent to the second major destination, Belarus (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +2.6%.

In value terms, Russia ($X) remains the key foreign market for apricots exports from Azerbaijan, comprising 88% of total exports. The second position in the ranking was held by Belarus ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +7.7%.

Export Prices by Country

The average apricot export price stood at $X per ton in 2022, with an increase of 7.7% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, apricot export price increased by +24.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 35%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Russia 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 (+19.6%).

Apricot Imports

Imports into Azerbaijan

In 2022, supplies from abroad of apricots decreased by -43% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 29,931% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, apricot imports contracted dramatically to $X in 2022. Overall, imports, however, posted a significant increase. The growth pace was the most rapid in 2016 with an increase of 30,342% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) was the main apricot supplier to Azerbaijan, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +8.4%.

In value terms, Turkey ($X) constituted the largest supplier of apricots to Azerbaijan.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled +24.7%.

Import Prices by Country

In 2022, the average apricot import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, saw a strong increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 130% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +15.0% per year.

Source: IndexBox Platform

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