Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Azerbaijan - 2023
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Azerbaijan (CIF) - 2022
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Azerbaijan
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Azerbaijan (CIF) - 2022
In 2022, the average import price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $2,189 per ton, with a decrease of -4.6% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for refined cane or beet sugar (with added flavoring or coloring matter) decreased by -16.7% against 2019 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 85%. The import price peaked at $2,626 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($4,047 per ton), while the price for the UK ($1,431 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Azerbaijan
Imports of refined cane or beet sugar (with added flavoring or coloring matter) into Azerbaijan rose rapidly to 56 tons in 2022, increasing by 8% on 2021 figures. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 124% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) totaled $122K in 2022. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 134%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 35.0 | 15.6 | 49.5 | 44.1 | 8.0% |
| Russia | 18.2 | 32.9 | 58.3 | 42.2 | 32.4% |
| Ukraine | 4.2 | N/A | 6.6 | 31.3 | 95.3% |
| United Kingdom | 3.1 | N/A | N/A | 4.3 | 11.5% |
| Others | 5.2 | 2.3 | 4.3 | 0.4 | -57.5% |
| Total | 65.7 | 50.8 | 119 | 122 | 22.9% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Azerbaijan in 2022:
- Russia (24.3 tons)
- Ukraine (17.6 tons)
- Turkey (10.9 tons)
- United Kingdom (3.0 tons)
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