Report Update Nov 1, 2024

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

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Azerbaijan: Palm Oil Market 2024

Palm Oil Market Size in Azerbaijan

In 2022, the Azerbaijani palm oil market increased by 78% to $X, rising for the third consecutive year after three years of decline. Overall, consumption continues to indicate a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Palm Oil Exports

Exports from Azerbaijan

In 2018, exports of palm oil from Azerbaijan totaled X kg, approximately mirroring the previous year's figure. Over the period under review, exports faced a sharp downturn. The smallest decline of 99.9% was in 2014. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2018, the exports remained at a lower figure.

In value terms, palm oil exports amounted to $X in 2018. In general, exports recorded a dramatic descent. The smallest decline of 99.9% was in 2014. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2018, the exports stood at a somewhat lower figure.

Exports by Country

Georgia (X kg) was the main destination for palm oil exports from Azerbaijan, accounting for a approx. 100% share of total exports.

From 2013 to 2018, the average annual growth rate of volume to Georgia was relatively modest.

From 2013 to 2018, the average annual growth rate of value to Georgia was relatively modest.

Export Prices by Country

The average palm oil export price stood at $X per ton in 2018, approximately equating the previous year. Over the period under review, the export price posted a significant increase. The pace of growth was the most pronounced in 2014 when the average export price decreased by 99.9%. The export price peaked in 2018 and is expected to retain growth in years to come.

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

From 2013 to 2018, the rate of growth in terms of prices for Georgia amounted to 0.0% per year.

Palm Oil Imports

Imports into Azerbaijan

In 2022, approx. X tons of palm oil were imported into Azerbaijan; growing by 44% against the year before. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, palm oil imports skyrocketed to $X in 2022. In general, imports enjoyed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of palm oil to Azerbaijan, with a 77% share of total imports. Moreover, palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+12.4% per year) and Colombia (0.0% per year).

In value terms, Indonesia ($X) constituted the largest supplier of palm oil to Azerbaijan, comprising 75% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia amounted to +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+21.4% per year) and Colombia (0.0% per year).

Import Prices by Country

In 2022, the average palm oil import price amounted to $X per ton, surging by 30% against the previous year. In general, the import price recorded a strong increase. The growth pace was the most rapid in 2021 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+90.3%), 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 palm oil in the world?

The country with the largest volume of palm oil consumption was Indonesia, accounting for 25% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, threefold. Malaysia ranked third in terms of total consumption with an 8.2% share.

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

Indonesia remains the largest palm oil producing country worldwide, accounting for 56% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with a 4% share.

What are the leading suppliers of palm oil to Azerbaijan?

In value terms, Malaysia and Indonesia were the largest palm oil suppliers to Azerbaijan.

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

The average palm oil export price stood at $2,234 per ton in 2018, remaining relatively unchanged against the previous year.

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

The average palm oil import price stood at $856 per ton in 2020, surging by 24% against the previous year.

This report provides an in-depth analysis of the palm 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 257 - Oil of palm

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