Azerbaijan: Pyrethrum And Peppermint Market 2025

Pyrethrum And Peppermint Market Size in Azerbaijan

In 2021, the Azerbaijani pyrethrum and peppermint market decreased by -16.7% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a temperate increase. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Pyrethrum And Peppermint Production in Azerbaijan

In value terms, pyrethrum and peppermint production contracted to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 24%. Pyrethrum and peppermint production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Pyrethrum And Peppermint Exports

Exports from Azerbaijan

In 2021, overseas shipments of pyrethrum and peppermint were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 168% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, pyrethrum and peppermint exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 89% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X tons) was the main destination for pyrethrum and peppermint exports from Azerbaijan, with a 72% share of total exports. Moreover, pyrethrum and peppermint exports to Iran exceeded the volume sent to the second major destination, Israel (X tons), sevenfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran totaled +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (-19.9% per year) and the United Arab Emirates (+380.6% per year).

In value terms, Iran ($X) remains the key foreign market for pyrethrum and peppermint exports from Azerbaijan, comprising 51% of total exports. The second position in the ranking was held by Israel ($X), with a 14% share of total exports. It was followed by India, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value to Iran stood at +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (-22.0% per year) and India (+4.3% per year).

Export Prices by Country

The average pyrethrum and peppermint export price stood at $X per ton in 2021, falling by -16% against the previous year. In general, the export price recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 when the average export price increased by 45% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into Azerbaijan

In 2021, approx. X tons of pyrethrum and peppermint were imported into Azerbaijan; jumping by 31% against 2020 figures. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2015 when imports increased by 138%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint imports surged to $X in 2021. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 103%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Poland (X tons), India (X tons) and Egypt (X tons) were the main suppliers of pyrethrum and peppermint imports to Azerbaijan, together comprising 54% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +56.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of pyrethrum and peppermint to Azerbaijan, comprising 23% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland amounted to +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+31.0% per year) and China (+68.6% per year).

Import Prices by Country

The average pyrethrum and peppermint import price stood at $X per ton in 2021, rising by 17% against the previous year. Overall, the import price enjoyed a strong increase. The pace of growth appeared the most rapid in 2019 an increase of 38%. The import price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Ukraine ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+31.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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