Edible oils will remain a staple food in local cuisine for the foreseeable future in Azerbaijan. Falling inflation in 2023 has already led to a decrease in unit prices of sunflower oil, and this trend should stimulate retail volume growth in the forthcoming years.
In times of economic uncertainty and lower purchasing power, the local population will be inclined to choose cheaper edible oils and demand for premium products should slow down. As such, the range of oil mixes should expand, including a mix of sunflower and corn oil and sunflower with rapeseed oil.
Locally produced olive oil is likely to exceed retail value share of imported olive oil in the coming period, as consumers remain loyal to local brands. Despite the fact that imported brands are considered to be of higher quality than local ones, price will remain the main factor in the purchasing decision in the face of economic instability.
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Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See All of Our DefinitionsThis report originates from Passport, our Edible Oils research and analysis database.
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