Azerbaijan: Sugar Market 2022

Sugar Market Size in Azerbaijan

For the third year in a row, the Azerbaijani sugar market recorded growth in sales value, which increased by 14% to $X in 2021. In general, consumption posted a prominent expansion. Sugar consumption peaked in 2021 and is likely to see gradual growth in the near future.

Sugar Production in Azerbaijan

In value terms, sugar production contracted to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 53% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

The average yield of sugar in Azerbaijan totaled less than X kg per ha in 2021, therefore, remained relatively stable against the year before. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of sugar in Azerbaijan was estimated at less than X ha, remaining stable against the previous year's figure. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Sugar Exports

Exports from Azerbaijan

In 2021, approx. X tons of sugar were exported from Azerbaijan; shrinking by -2.3% on the year before. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 40% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, sugar exports surged to $X in 2021. Over the period under review, exports saw a abrupt slump. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkmenistan (X tons) was the main destination for sugar exports from Azerbaijan, with a 78% share of total exports. Moreover, sugar exports to Turkmenistan exceeded the volume sent to the second major destination, Kyrgyzstan (X tons), sevenfold. The third position in this ranking was taken by Tajikistan (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Turkmenistan totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+12.8% per year) and Tajikistan (+6.0% per year).

In value terms, Turkmenistan ($X) remains the key foreign market for sugar exports from Azerbaijan, comprising 79% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with an 11% share of total exports. It was followed by Tajikistan, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkmenistan totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+10.5% per year) and Tajikistan (+2.2% per year).

Export Prices by Country

The average sugar export price stood at $X per ton in 2021, surging by 22% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while the average price for exports to Tajikistan ($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 Kazakhstan (+2.4%), while the prices for the other major destinations experienced a decline.

Sugar Imports

Imports into Azerbaijan

In 2021, imports of sugar into Azerbaijan expanded modestly to X tons, picking up by 3.5% on 2020 figures. In general, total imports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 39%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, sugar imports soared to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.9% against 2015 indices. The pace of growth was the most pronounced in 2013 when imports increased by 38% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Brazil (X tons) was the main sugar supplier to Azerbaijan, with a 94% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+518.8% per year) and Russia (+91.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of sugar to Azerbaijan, comprising 97% of total imports. The second position in the ranking was held by Mexico ($X), with a 1.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+330.4% per year) and Russia (+70.4% per year).

Import Prices by Country

In 2021, the average sugar import price amounted to $X per ton, increasing by 15% against the previous year. Overall, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugar import price increased by +31.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 79% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+8.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform