Price for Sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa in Azerbaijan - 2023

Contents:

1. Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan (CIF) - 2023
2. Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan (FOB) - 2022
3. Imports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan
4. Exports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan

Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan (CIF) - 2023

In November 2023, the average import price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa amounted to $2,254 per ton, surging by 7.9% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 an increase of 13% month-to-month. Over the period under review, average import prices attained the peak figure at $2,268 per ton in February 2023; afterwards, it flattened through to November 2023.

Prices varied noticeably by the country of origin: the country with the highest price was China ($4,412 per ton), while the price for Iran ($782 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Ukraine (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan (FOB) - 2022

The average export price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa stood at $1,882 per ton in 2022, increasing by 18% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa increased by +110.3% against 2012 indices. The growth pace was the most rapid in 2019 an increase of 24%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($2,967 per ton), while the average price for exports to Uzbekistan ($1,340 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 Saudi Arabia (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan

For the fourth year in a row, Azerbaijan recorded growth in purchases abroad of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa, which increased by 4.6% to 24K tons in 2022. The total import volume increased at an average annual rate of +7.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 12% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa surged to $47M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa to Azerbaijan in 2022:

1. Russia (9.9K tons)
2. Iran (6.2K tons)
3. Ukraine (3.8K tons)
4. Turkey (2.8K tons)
5. Kazakhstan (0.6K tons)

Exports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in Azerbaijan

In 2022, exports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa from Azerbaijan soared to 1.1K tons, with an increase of 127% compared with the previous year's figure. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa surged to $2.1M in 2022. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa from Azerbaijan in 2022:

1. Georgia (528.3 tons)
2. Turkey (118.7 tons)
3. Russia (111.4 tons)
4. Uzbekistan (86.4 tons)
5. Ukraine (38.6 tons)
6. Kazakhstan (29.9 tons)
7. Afghanistan (25.9 tons)
8. Saudi Arabia (22.7 tons)
9. Iraq (21.8 tons)
10. Moldova (20.2 tons)
11. China (19.8 tons)
12. Turkmenistan (10.5 tons)

Source: IndexBox Market Intelligence Platform