Azerbaijan: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Azerbaijan

In 2021, the Azerbaijani rusks and toasted bread market decreased by -1.8% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +82.6% against 2013 indices. Rusks and toasted bread consumption peaked at $X in 2020, and then dropped modestly in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Azerbaijan

In value terms, rusks and toasted bread production fell modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +79.4% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Azerbaijan

In 2021, approx. X tons of rusks, toasted bread and similar toasted products were exported from Azerbaijan; picking up by 1,360% on 2020. In general, exports, however, showed a sharp shrinkage. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, rusks and toasted bread exports soared to $X in 2021. Over the period under review, exports, however, recorded a precipitous decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X tons) was the main destination for rusks and toasted bread exports from Azerbaijan, with a 78% share of total exports. Moreover, rusks and toasted bread exports to Kazakhstan exceeded the volume sent to the second major destination, Georgia (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Kazakhstan was relatively modest.

In value terms, Kazakhstan ($X) emerged as the key foreign market for rusks, toasted bread and similar toasted products exports from Azerbaijan, comprising 83% of total exports. The second position in the ranking was taken by Georgia ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Kazakhstan was relatively modest.

Export Prices by Country

In 2021, the average rusks and toasted bread export price amounted to $X per ton, picking up by 49% against the previous year. Over the period under review, the export price, however, saw a perceptible descent. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Georgia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkmenistan (-3.7%).

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Azerbaijan

In 2021, overseas purchases of rusks, toasted bread and similar toasted products decreased by -4.5% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 73% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, rusks and toasted bread imports shrank slightly to $X in 2021. In general, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 255% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of rusks and toasted bread to Azerbaijan, with a 62% share of total imports. Moreover, rusks and toasted bread imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Iran (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at +37.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.2% per year) and Iran (+36.6% per year).

In value terms, the largest rusks and toasted bread suppliers to Azerbaijan were Russia ($X), Turkey ($X) and Ukraine ($X), together comprising 93% of total imports.

Russia, with a CAGR of +44.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rusks and toasted bread import price amounted to $X per ton, approximately mirroring the previous year. In general, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rusks and toasted bread import price increased by +23.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 105% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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