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Azerbaijan imported about 65 thousand tons of palm oil last year

17 February 2025 17:31 (UTC +04:00)

In 2024, Azerbaijan imported 64,559.5 tons of crude palm oil and its fractions worth of USD 81 million 932 thousand, APA-Economics reports.

According to APA-Economics' calculations based on the report of the State Statistics Committee, compared to 2023, this indicator increased by 41.7% or 18,989 tons in volume terms, and by 56.5% or USD 29 million 589 thousand in value terms. In 2023, Azerbaijan imported 45,570 tons of crude palm oil and its fractions worth of USD 52 million 342 thousand.

During this period, the average import price of 1 kg of palm oil was AZN 2.2. During the reporting period, Azerbaijan imported 23,896 tons of palm oil from Malaysia and 40,663.5 tons from Indonesia.

Recall that over the past 30 years, palm oil has served as the main substitute for trans fats and is widely used in the food industry, especially by manufacturers of confectionery products, ice cream, chocolate, and chips.

Note that palm oil is widely used in margarine production worldwide. Last year, Azerbaijan produced 51,063.8 tons of margarine, of which 1,349.6 tons were exported.