What is happening to vegetable oil prices in Azerbaijan

Published 2022년 9월 1일

Tridge summary

Vegetable oil prices in Azerbaijan have increased, with the exception of olive oil. The price hike is due to rising costs in the wholesale market and is influenced by events in Ukraine, as Azerbaijan relies heavily on imports for its vegetable oil production. The government's strategy is to prevent a shortage rather than control prices. In 2021 and the first quarter of 2022, Azerbaijan imported significant amounts of sunflower and corn oil, mainly from Russia, Turkey, Ukraine, Argentina, and Brazil.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

All types of vegetable oil are getting more expensive in Azerbaijan, except for olive oil, which is still sold at the same price. The price of vegetable oil has risen again in Azerbaijan, buyers told Sputnik Azerbaijan. According to them, prices have risen for both local and imported products. Buyers note that corn and sunflower oils produced in Turkey and Russia increased the most in price. Buyer Gulyush Makhmudova told Sputnik Azerbaijan that she bought a bottle of Turkish-made Sunar corn oil for 10.59 manats, which cost 7 manats 10 days ago. "A liter of oil has risen in price by more than three manats. Such a jump in prices puts us, buyers, in a hopeless situation," Makhmudova said. According to her, Russian-made Golden Sun corn oil is becoming more expensive almost every month. The buyers said that back in March, a 5-liter bottle of this oil cost 20.88 manats, and in May the price for it rose to 23.85 manats. Today its cost is 26.69 manats. Thus, for half a year it rose in ...
Source: Oilworld

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.