Azerbaijan: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Azerbaijan

In 2022, the Azerbaijani market for malt extract and food preparations of flour, meal, and starches decreased by -21.7% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, saw prominent growth. Consumption of peaked at $X in 2021, and then contracted notably in the following year.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Azerbaijan

In 2022, approx. X kg of malt extract and food preparations of flour, meal, and starches were exported from Azerbaijan; waning by -96.8% on the year before. Over the period under review, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 814% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of malt extract and food preparations of flour, meal, and starches declined dramatically to $X in 2022. In general, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,443% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Iran (X kg) was the main destination for exports of malt extract and food preparations of flour, meal, and starches from Azerbaijan, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Iran was relatively modest.

In value terms, Iran ($X) emerged as the key foreign market for malt extract and food preparations of flour, meal, and starches exports from Azerbaijan.

From 2012 to 2022, the average annual growth rate of value to Iran was relatively modest.

Export Prices by Country

The average export price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, waning by -73.1% against the previous year. Over the period under review, the export price faced a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 79%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Ukraine amounted to +63.5% per year.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Azerbaijan

In 2022, after three years of growth, there was significant decline in purchases abroad of malt extract and food preparations of flour, meal, and starches, when their volume decreased by -35.9% to X tons. Over the period under review, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 219% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2021, and then reduced notably in the following year.

In value terms, imports of malt extract and food preparations of flour, meal, and starches contracted notably to $X in 2022. In general, imports, however, showed significant growth. The growth pace was the most rapid in 2016 when imports increased by 227%. Over the period under review, imports of attained the peak figure at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest malt extract and food preparations of flour, meal, and starch supplier to Azerbaijan, accounting for a 51% share of total imports. Moreover, imports of malt extract and food preparations of flour, meal, and starches from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was taken by Denmark (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+9.8% per year) and Denmark (-1.5% per year).

In value terms, Russia ($X) constituted the largest supplier of malt extract and food preparations of flour, meal, and starches to Azerbaijan, comprising 42% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 21% share of total imports. It was followed by Denmark, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to +56.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+34.5% per year) and Denmark (+4.6% per year).

Import Prices by Country

The average import price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, increasing by 29% against the previous year. Over the period under review, the import price showed a strong increase. The growth pace was the most rapid in 2017 an increase of 43%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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