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Turkey - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice of Turkey's Maize Oil Drops by 14%, Reaching $1,417 per Ton Following Two Consecutive Months of Decline
Turkey Maize Oil Export Price in July 2023
In July 2023, the maize oil price stood at $1,417 per ton (FOB, Turkey), which is down by -13.8% against the previous month. Over the period under review, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in December 2022 when the average export price increased by 6.8% month-to-month. Over the period under review, the average export prices reached the maximum at $2,460 per ton in July 2022; however, from August 2022 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was Israel ($1,862 per ton), while the average price for exports to Jordan ($1,222 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (-2.4%), while the prices for the other major destinations experienced a decline.
![Turkey Maize Oil Export Prices By Country (USD Per Ton)](/landing/img/charts/turkey-maize-oil-price-in-july-2023-840w.png)
COUNTRY | Export Price of Maize Oil in Turkey (USD per ton) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | |
Israel | 2,743 | 2,750 | 2,137 | 2,498 | 1,933 | 1,962 | 1,952 | 1,940 | 1,798 | 1,765 | 1,776 | 1,646 | 1,862 |
Azerbaijan | 2,596 | 1,981 | 2,447 | 2,204 | 2,131 | 2,165 | 2,171 | 1,556 | 2,122 | 2,100 | 2,102 | 1,929 | 1,682 |
Libya | 2,407 | 2,315 | 2,256 | 1,764 | 1,400 | 1,868 | 1,897 | 1,937 | 1,874 | 1,758 | 1,785 | 1,675 | 1,577 |
United Arab Emirates | 2,729 | 1,914 | 2,083 | 1,941 | 1,921 | 1,745 | 1,802 | 1,729 | 1,754 | 1,581 | 1,569 | 1,547 | 1,333 |
Jordan | N/A | N/A | N/A | 1,803 | N/A | 2,083 | 1,809 | 1,705 | 1,418 | N/A | 1,612 | N/A | 1,222 |
Egypt | N/A | N/A | N/A | 1,512 | N/A | N/A | N/A | 1,592 | N/A | N/A | N/A | 1,250 | N/A |
Average | 2,460 | 2,169 | 2,227 | 1,888 | 1,704 | 1,819 | 1,933 | 1,718 | 1,827 | 1,739 | 1,775 | 1,645 | 1,417 |
Turkey Maize Oil Export Prices by Type
Average prices varied noticeably for the major types of exported product. In July 2023, the product with the highest price was refined maize (corn) oil ($1,546 per ton), while the average price for exports of crude maize (corn) oil totaled $1,249 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for the following types: refined maize oil (-3.8%).
Turkey Maize Oil Exports
In July 2023, shipments abroad of maize oil increased by 54% to 9.6K tons, rising for the third month in a row after two months of decline. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in December 2022 when exports increased by 293% m-o-m. Over the period under review, the exports reached the maximum in July 2023.
In value terms, maize oil exports skyrocketed to $14M (IndexBox estimates) in July 2023. Overall, exports showed a noticeable expansion. The growth pace was the most rapid in December 2022 when exports increased by 320% month-to-month. As a result, the exports attained the peak of $16M. From January 2023 to July 2023, the growth of the exports remained at a lower figure.
Turkey Maize Oil Exports by Type
Refined maize (corn) oil (5.5K tons) and crude maize (corn) oil (4.2K tons) were the main products of maize oil exports from Turkey.
From July 2022 to July 2023, the biggest increases were in crude maize oil (with a CAGR of +4.0%).
In value terms, the most traded types of maize oil in Turkey were refined maize (corn) oil ($8.4M) and crude maize (corn) oil ($5.2M).
Among the main product categories, crude maize oil, with a CAGR of -0.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review.
Turkey Maize Oil Exports by Country
Libya (3.4K tons), Georgia (2.8K tons) and the United Arab Emirates (1.2K tons) were the main destinations of maize oil exports from Turkey, together accounting for 77% of total exports.
From July 2022 to July 2023, the biggest increases were in Georgia (with a CAGR of +49.7%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for maize oil exported from Turkey were Libya ($5.4M), Georgia ($3.6M) and the United Arab Emirates ($1.6M), with a combined 77% share of total exports.
Georgia, with a CAGR of +41.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the maize 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 60 - Oil of Maize
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