Azerbaijan starts buying palm oil from Latin America

In January-August 2022, Azerbaijan imported 42,614 tons of palm oil for $69.662 million, Report informs, citing the country’s State Statistics Committee.

Compared to the same period last year, the volume of imports increased by 22% while their monetary value soared by 65%.

During the reporting period, Azerbaijan imported 34,986 tons (+37.2%) of palm oil from Indonesia for $55.864 million (+89%), 4,633 tons (-51%) from Malaysia for $7.959 million (-37%), 2,978 tons from Colombia for $5.8 million, 9.99 tons from Turkiye for $23,770, and 6 tons (-30.3 %) from Iran for $12,000 (-30%).

This year, for the first time in the last 11 years, Azerbaijan bought palm oil from Colombia. After a three-year break, the supply from Turkiye was resumed.