Price for Cereal Groats and Meal; of Maize (Corn) in Azerbaijan - 2023

Contents:

1. Price for Cereal Groats and Meal; of Maize (Corn) in Azerbaijan (CIF) - 2022
2. Imports of Cereal Groats and Meal; of Maize (Corn) in Azerbaijan

Price for Cereal Groats and Meal; of Maize (Corn) in Azerbaijan (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $425 per ton, with an increase of 16% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 cereal groats and meal; of maize (corn)s increased by +60.8% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 22% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($596 per ton), while the price for Ukraine ($317 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Imports of Cereal Groats and Meal; of Maize (Corn) in Azerbaijan

In 2022, the amount of cereal groats and meal; of maize (corn)s imported into Azerbaijan totaled 1.2K tons, picking up by 3.3% on 2021. The total import volume increased at an average annual rate of +1.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of cereal groats and meal; of maize (corn)s soared to $510K in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +16.4% 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 +93.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 61% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in years to come.

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Azerbaijan in 2022:

1. Russia (1030.3 tons)
2. Turkey (100.6 tons)
3. Ukraine (67.5 tons)

Source: IndexBox Market Intelligence Platform