Price for Food Preparations Not Elsewhere Specified or Included in Azerbaijan - 2023
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Azerbaijan (CIF) - 2023
- Price for Food Preparations Not Elsewhere Specified or Included in Azerbaijan (FOB) - 2022
- Imports of Food Preparations Not Elsewhere Specified or Included in Azerbaijan
- Exports of Food Preparations Not Elsewhere Specified or Included in Azerbaijan
Price for Food Preparations Not Elsewhere Specified or Included in Azerbaijan (CIF) - 2023
In December 2023, the average import price for food preparations not elsewhere specified or included amounted to $4,478 per ton, with a decrease of -6.4% against the previous month. Over the period under review, the import price saw a mild contraction. The pace of growth was the most pronounced in January 2023 when the average import price increased by 39% month-to-month. As a result, import price attained the peak level of $7,170 per ton. From February 2023 to December 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Poland ($24,048 per ton), while the price for Malaysia ($1,705 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Poland (+10.2%), while the prices for the other major suppliers experienced a decline.
Price for Food Preparations Not Elsewhere Specified or Included in Azerbaijan (FOB) - 2022
The average export price for food preparations not elsewhere specified or included stood at $2,426 per ton in 2022, declining by -15.5% against the previous year. Overall, the export price, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of 47% against the previous year. The export price peaked at $2,870 per ton in 2021, and then fell sharply in the following year.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($2,750 per ton), while the average price for exports to the United Arab Emirates ($2,115 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Food Preparations Not Elsewhere Specified or Included in Azerbaijan
For the fourth consecutive year, Azerbaijan recorded growth in overseas purchases of food preparations not elsewhere specified or included, which increased by 9.9% to 14K tons in 2022. The total import volume increased at an average annual rate of +11.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.
In value terms, imports of food preparations not elsewhere specified or included stood at $91M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Food Preparations Not Elsewhere Specified or Included in Azerbaijan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 8.3 | 12.2 | 26.4 | 24.7 | 43.8% |
| Russia | 10.8 | 12.2 | 17.8 | 19.0 | 20.7% |
| Italy | 5.5 | 8.1 | 8.6 | 8.5 | 15.6% |
| Germany | 2.2 | 2.4 | 3.6 | 5.1 | 32.3% |
| France | 4.2 | 4.1 | 4.5 | 5.0 | 6.0% |
| Poland | 1.0 | 1.0 | 1.7 | 4.7 | 67.5% |
| Netherlands | 1.1 | 1.2 | 1.3 | 3.7 | 49.8% |
| Ukraine | 0.9 | 1.2 | 1.0 | 1.1 | 6.9% |
| Denmark | 0.1 | 0.4 | 0.8 | 0.9 | 108.0% |
| Iran | 0.2 | 0.2 | 0.6 | 0.2 | 0.0% |
| United Arab Emirates | 3.1 | 0.2 | 1.6 | N/A | -28.2% |
| Others | 14.7 | 17.0 | 19.9 | 18.4 | 7.8% |
| Total | 51.8 | 60.2 | 87.6 | 91.4 | 20.8% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Azerbaijan in 2022:
- Russia (3.8K tons)
- Turkey (3.5K tons)
- Italy (1.8K tons)
- Germany (0.8K tons)
- Netherlands (0.7K tons)
- Poland (0.6K tons)
- Denmark (0.4K tons)
- France (0.4K tons)
- Iran (0.2K tons)
- Ukraine (0.1K tons)
Exports of Food Preparations Not Elsewhere Specified or Included in Azerbaijan
In 2022, overseas shipments of food preparations not elsewhere specified or included were finally on the rise to reach 313 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of food preparations not elsewhere specified or included skyrocketed to $759K in 2022. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Food Preparations Not Elsewhere Specified or Included in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Georgia | 125 | 46.6 | 12.7 | 669 | 74.9% |
| United Arab Emirates | 1.1 | 0.5 | 66.7 | 68.0 | 295.4% |
| Turkmenistan | 32.0 | 39.9 | 25.5 | N/A | -10.7% |
| Others | 44.2 | 57.6 | 45.6 | 21.3 | -21.6% |
| Total | 202 | 145 | 151 | 759 | 55.5% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Azerbaijan in 2022:
- Georgia (279.2 tons)
- United Arab Emirates (32.1 tons)
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