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Turkey - Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTurkey's 2023 Coconut Oil Imports Fall Sharply to $38 Million
Turkey Coconut Oil Imports
In 2023, the amount of coconut (copra) oil imported into Turkey rose markedly to 31K tons, increasing by 11% against the year before. Over the period under review, imports continue to indicate pronounced growth. The pace of growth was the most pronounced in 2017 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the near future.
In value terms, coconut oil imports declined markedly to $38M (IndexBox estimates) in 2023. In general, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 81% against the previous year. Imports peaked at $55M in 2022, and then dropped dramatically in the following year.
COUNTRY | Import Value of Coconut Oil in Turkey (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Malaysia | 15.7 | 15.7 | 15.4 | 10.3 | 26.1 | 12.5 | 14.0 | 14.6 | 24.9 | 40.1 | 23.2 |
Philippines | 0.4 | 0.1 | 0.2 | 0.1 | 0.3 | 0.1 | 0.1 | 2.8 | 1.1 | 0.3 | 10.5 |
Indonesia | 3.7 | 9.2 | 5.2 | 5.3 | 1.3 | 1.4 | 0.9 | 0.8 | 1.0 | 8.8 | 1.8 |
France | N/A | N/A | N/A | 0.3 | 1.0 | 2.3 | 0.8 | 2.1 | 3.8 | 5.4 | 1.8 |
Sri Lanka | N/A | N/A | 0.2 | 0.2 | 0.6 | 0.4 | 0.4 | 0.6 | 0.9 | 0.6 | 0.3 |
Others | 0.5 | N/A | N/A | 0.5 | 0.8 | 0.5 | N/A | 0.1 | 0.2 | 0.3 | 0.2 |
Total | 20.4 | 25.1 | 21.0 | 16.7 | 30.2 | 17.3 | 16.2 | 21.0 | 31.9 | 55.5 | 37.9 |
Imports by Country
In 2023, Malaysia (18K tons) constituted the largest coconut oil supplier to Turkey, with a 57% share of total imports. Moreover, coconut oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, the Philippines (4.7K tons), fourfold. Indonesia (1.5K tons) ranked third in terms of total imports with a 4.7% share.
From 2013 to 2023, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+27.8% per year) and Indonesia (-9.3% per year).
In value terms, Malaysia ($23M) constituted the largest supplier of coconut (copra) oil to Turkey, comprising 61% of total imports. The second position in the ranking was held by the Philippines ($10M), with a 28% share of total imports. It was followed by France, with a 4.8% share.
From 2013 to 2023, the average annual rate of growth in terms of value from Malaysia stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+38.8% per year) and France (+127.6% per year).
Imports by Type
In 2023, refined coconut (copra) oil (20K tons) constituted the largest type of coconut (copra) oil supplied to Turkey, accounting for a 81% share of total imports. Moreover, refined coconut (copra) oil exceeded the figures recorded for the second-largest type, crude coconut (copra) oil (4.9K tons), fourfold.
From 2013 to 2023, the average annual rate of growth in terms of the volume of refined coconut (copra) oil imports stood at +3.2%.
In value terms, refined coconut (copra) oil ($27M) constituted the largest type of coconut (copra) oil supplied to Turkey, comprising 71% of total imports. The second position in the ranking was held by crude coconut (copra) oil ($11M), with a 29% share of total imports.
Import Prices by Country
In 2023, the coconut oil price amounted to $1,218 per ton (CIF, Turkey), dropping by -38.2% against the previous year. Over the period under review, import price indicated a notable increase from 2013 to 2023: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 an increase of 66% against the previous year. The import price peaked at $1,970 per ton in 2022, and then dropped notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($2,215 per ton), while the price for Indonesia ($1,258 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the coconut oil market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 252 - Oil of Coconuts
Country coverage:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023