PALMOILMAGAZINE, Azerbaijan – From January to October 2024, Azerbaijan imported 48,947.6 tons of crude palm oil and its fractions, valued at a total of USD 57.96 million. This marks a 7.4% increase in volume, or 3,377 tons, compared to the same period in the previous year.
The average price per kilogram of palm oil was recorded at 2 manats. Malaysia (23,179 tons) and Indonesia (25,768 tons) emerged as the primary suppliers, maintaining their dominance in the Azerbaijani market.
Over the past three decades, palm oil has largely replaced trans fats in margarine production and is extensively used in the food industry. In Azerbaijan, it is a key ingredient in producing sweets, ice cream, chocolates, and chips.
According to Palmoilmagazine.com, citing MPOC on December 31, 2024, palm oil also plays a crucial role in global margarine production. In 2024, Azerbaijan produced 40,853 tons of margarine, exporting 1,009 tons. This highlights the sector’s importance to the national economy.
The rise in palm oil imports reflects steady demand from Azerbaijan’s food industry. Leading global suppliers such as Malaysia and Indonesia continue to meet the needs of local producers with stable supplies.
Given the ongoing growth trends and the significance of palm oil in the food sector, experts predict that Azerbaijan’s imports of this product will remain high in the coming years. This trend is expected to support local production and enhance the country’s export potential. (P2)
