Palm oil use grows in Azerbaijan

Published 2022년 2월 11일

Tridge summary

From January to November of the previous year, Azerbaijan imported over 46,000 tons of palm oil, primarily from Indonesia and Malaysia, at a total cost of $55.428 million. This surge in imports is attributed to a global uptick in oil prices and a labor shortage in producing countries, leading to increased demand from China and India. Despite concerns about palm oil's safety, the country's Food Safety Agency assures that the palm oil sold in Azerbaijan is safe to consume. However, issues are raised regarding the transparency of product compositions, with some manufacturers failing to declare the use of palm oil, which is commonly used due to its low cost. The article emphasizes the importance of consumer information and regulation to prevent misleading marketing and ensure consumer safety.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the State Statistics Committee, in the period from January to November last year, more than 46,000 tons of palm oil worth $55.428 million were imported into our republic. During this period, we imported most of this product from Indonesia (29.953 thousand tons in the amount of $34.8 million) and Malaysia (16.132 thousand tons in the amount of $20.5 million). It should be noted that palm oil is one of the cheapest types of oils, therefore manufacturers of various food products have long been actively using it as a raw material. The rise in price on the world market for almost all types of oils means that it will be used even more often. True, prices for palm oil also jumped significantly last year. This is due to the fact that Indonesia and Malaysia, which are its main producers and suppliers, are faced with a shortage of labor due to the pandemic and, as a result, with a reduction in production. In addition, the main consumers - China and India have increased the ...

Source: Oilworld