Report Update Nov 1, 2024

Azerbaijan - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Azerbaijan: Maize Oil Market 2024

Maize Oil Market Size in Azerbaijan

In 2022, the Azerbaijani maize oil market increased by 2.6% to $X, rising for the fourth year in a row after two years of decline. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +73.9% against 2018 indices. Maize oil consumption peaked in 2022 and is expected to retain growth in years to come.

Maize Oil Production in Azerbaijan

In value terms, maize oil production reached $X in 2022 estimated in export price. In general, production, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 11%. Maize oil production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Maize Oil Exports

Exports from Azerbaijan

In 2022, after five years of growth, there was significant decline in overseas shipments of maize oil, when their volume decreased by -25.6% to X tons. Overall, exports recorded a sharp setback. The pace of growth was the most pronounced in 2013 when exports increased by 40% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize oil exports amounted to $X in 2022. In general, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2013 with an increase of 37% against the previous year. 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 maize oil exports from Azerbaijan, with a 96% share of total exports. It was followed by Pakistan (X tons), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia stood at +5.9%.

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

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia amounted to +8.6%.

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, growing by 39% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+2.5%).

Maize Oil Imports

Imports into Azerbaijan

After three years of growth, supplies from abroad of maize oil decreased by -15.5% to X tons in 2022. In general, imports saw a noticeable descent. The pace of growth was the most pronounced in 2019 when imports increased by 23%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, maize oil imports reached $X in 2022. Over the period under review, imports, however, saw a resilient increase. The growth pace was the most rapid in 2016 with an increase of 110% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey (X tons), Argentina (X tons) and Russia (X tons) were the main suppliers of maize oil imports to Azerbaijan, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Argentina ($X) and Russia ($X) appeared to be the largest maize oil suppliers to Azerbaijan, together accounting for 98% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +31.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, growing by 18% against the previous year. In general, the import price posted a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of 90% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.3%), 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 maize oil in the world?

The United States constituted the country with the largest volume of maize oil consumption, accounting for 45% of total volume. Moreover, maize oil consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by Brazil, with a 3.2% share.

What are the largest producers of maize oil in the world?

The country with the largest volume of maize oil production was the United States, accounting for 50% of total volume. Moreover, maize oil production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. Brazil ranked third in terms of total production with a 4.4% share.

What are the leading suppliers of maize oil to Azerbaijan?

In value terms, Argentina constituted the largest supplier of maize oil to Azerbaijan, comprising 55% of total imports. The second position in the ranking was occupied by Brazil, with a 20% share of total imports. It was followed by Russia, with a 10% share.

What are the leading importers of maize oil from Azerbaijan?

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

What is the average export price for maize oil in Azerbaijan?

The average maize oil export price stood at $3,783 per ton in 2021, picking up by 6.7% against the previous year.

What is the average import price for maize oil in Azerbaijan?

In 2021, the average maize oil import price amounted to $1,745 per ton, jumping by 45% against the previous year.

This report provides an in-depth analysis of the 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:

FCL 60 - Oil of Maize

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.

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