Shrimp Price in Azerbaijan - 2023
Contents:
Shrimp Price in Azerbaijan (CIF) - 2022
The average shrimp import price stood at $7,334 per ton in 2022, remaining stable against the previous year. In general, the import price posted a moderate expansion. The growth pace was the most rapid in 2016 an increase of 491%. The import price peaked at $9,260 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Luxembourg ($14,270 per ton), while the price for China ($6,166 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+40.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Imports in Azerbaijan
Shrimp imports into Azerbaijan rose significantly to 212 tons in 2022, surging by 6.4% on the previous year. The total import volume increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 14% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
In value terms, shrimp imports expanded remarkably to $1.6M in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Shrimp in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 359 | 542 | 358 | 409 | 4.4% |
| Russia | 254 | 318 | 335 | 339 | 10.1% |
| China | 291 | 192 | 330 | 335 | 4.8% |
| United Arab Emirates | 112 | 11.4 | 88.9 | 90.1 | -7.0% |
| Luxembourg | 29.7 | 49.2 | 76.2 | 77.2 | 37.5% |
| Thailand | 97.5 | 110 | 0.3 | 67.3 | -11.6% |
| Argentina | 64.3 | 53.7 | 64.3 | 65.1 | 0.4% |
| Bangladesh | 61.8 | 87.7 | 32.8 | 59.1 | -1.5% |
| Vietnam | 15.6 | 45.9 | 36.0 | 36.4 | 32.6% |
| Lithuania | N/A | N/A | 48.6 | N/A | 0% |
| Others | 155 | 66.2 | 73.0 | 78.9 | -20.2% |
| Total | 1,441 | 1,476 | 1,444 | 1,557 | 2.6% |
Top Suppliers of Shrimp to Azerbaijan in 2022:
- India (59.4 tons)
- China (54.3 tons)
- Russia (50.7 tons)
- United Arab Emirates (8.8 tons)
- Thailand (8.8 tons)
- Argentina (8.7 tons)
- Luxembourg (5.4 tons)
- Bangladesh (4.5 tons)
- Vietnam (3.5 tons)
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