Report Update Nov 1, 2024

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

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Azerbaijan: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Azerbaijan

The Azerbaijani refined palm oil market stood at less than $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, saw a significant expansion. The most prominent rate of growth was recorded in 2019 when the market value decreased by 99.9%. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Refined Palm Oil Production in Azerbaijan

In value terms, refined palm oil production amounted to $X in 2022 estimated in export price. In general, production, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 17%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from Azerbaijan

In 2018, approx. X kg of refined palm oil were exported from Azerbaijan; approximately mirroring 2017 figures. Overall, exports showed a precipitous descent. The smallest decline of 99.9% was in 2014. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2018, the exports remained at a lower figure.

In value terms, refined palm oil exports stood at $X in 2018. In general, exports faced a precipitous contraction. The smallest decline of 99.9% was in 2014. The exports peaked at $X in 2013; however, from 2014 to 2018, the exports remained at a lower figure.

Exports by Country

Georgia (X kg) was the main destination for refined palm oil exports from Azerbaijan, with 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

In 2018, the average refined palm oil export price amounted to $X per ton, approximately equating the previous year. Overall, the export price continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 when the average export price decreased by 99.9%. Over the period under review, the average export prices hit record highs in 2018 and is likely to see gradual growth in the immediate term.

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.

Refined Palm Oil Imports

Imports into Azerbaijan

In 2022, the amount of refined palm oil imported into Azerbaijan fell to X tons, reducing by -11.7% compared with 2021 figures. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 261% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, refined palm oil imports expanded modestly to $X in 2022. Over the period under review, imports, however, saw slight growth. The most prominent rate of growth was recorded in 2020 when imports increased by 237%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Iran (X tons), Turkey (X tons) and Malaysia (X kg) were the main suppliers of refined palm oil imports to Azerbaijan, with a combined 100% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +47.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Iran ($X), Turkey ($X) and Malaysia ($X) appeared to be the largest refined palm oil suppliers to Azerbaijan, with a combined 99% share of total imports.

Iran, with a CAGR of +51.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, jumping by 18% against the previous year. In general, the import price enjoyed strong growth. The most prominent rate of growth was recorded in 2021 an increase of 70% against the previous year. The import price peaked in 2022 and is likely to see steady 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 Malaysia ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.4%), 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 refined palm oil in the world?

China constituted the country with the largest volume of refined palm oil consumption, accounting for 12% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 5.6% share.

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

Indonesia remains the largest refined palm oil producing country worldwide, comprising approx. 28% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 5.2% share.

What are the leading suppliers of refined palm oil to Azerbaijan?

In value terms, Malaysia constituted the largest supplier of refined palm oil to Azerbaijan, comprising 66% of total imports. The second position in the ranking was occupied by Iran, with a 25% share of total imports.

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

In 2018, the average refined palm oil export price amounted to $2,226 per ton, remaining constant against the previous year.

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

In 2021, the average refined palm oil import price amounted to $1,632 per ton, with an increase of 51% against the previous year.

This report provides an in-depth analysis of the refined 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:

Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

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