Price for Butter and Other Fats and Oils Derived from Milk in Turkey - 2024
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Turkey (FOB) - 2024
- Price for Butter and Other Fats and Oils Derived from Milk in Turkey (CIF) - 2024
- Exports of Butter and Other Fats and Oils Derived from Milk in Turkey
- Imports of Butter and Other Fats and Oils Derived from Milk in Turkey
Price for Butter and Other Fats and Oils Derived from Milk in Turkey (FOB) - 2024
The average export price for butter and other fats and oils derived from milk stood at $8,060 per ton in December 2023, increasing by 14% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 when the average export price increased by 20% month-to-month. The export price peaked at $8,735 per ton in January 2023; however, from February 2023 to December 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In December 2023, the highest price was recorded for prices to the United Arab Emirates ($9,497 per ton) and the United States ($9,384 per ton), while the average price for exports to China ($7,007 per ton) and South Korea ($7,200 per ton) were amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Turkey (CIF) - 2024
The average import price for butter and other fats and oils derived from milk stood at $5,857 per ton in December 2023, growing by 12% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in August 2023 when the average import price increased by 20% m-o-m. As a result, import price reached the peak level of $6,683 per ton. From September 2023 to December 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($8,934 per ton), while the price for Pakistan ($4,079 per ton) was amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by France (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Butter and Other Fats and Oils Derived from Milk in Turkey
Exports of butter and other fats and oils derived from milk from Turkey skyrocketed to 14K tons in 2022, with an increase of 282% on the year before. In general, exports posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of butter and other fats and oils derived from milk soared to $73M in 2022. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Egypt | N/A | 3.8 | 8.3 | 16.7 | 109.6% |
| Netherlands | 0.1 | N/A | 0.1 | 12.6 | 401.3% |
| Morocco | N/A | N/A | 0.1 | 10.6 | 10500.0% |
| Russia | 0.1 | N/A | 2.6 | 4.4 | 253.0% |
| Azerbaijan | 0.1 | 0.3 | 1.6 | 4.1 | 244.8% |
| Israel | N/A | N/A | 0.1 | 4.0 | 3900.0% |
| Serbia | N/A | N/A | N/A | 3.2 | 0% |
| United Arab Emirates | 0.4 | 0.3 | 0.9 | 2.5 | 84.2% |
| Lebanon | N/A | N/A | 0.1 | 1.3 | 1200.0% |
| Tunisia | N/A | N/A | N/A | 1.2 | 0% |
| Oman | 0.1 | 0.1 | N/A | 1.1 | 122.4% |
| Cyprus | 1.1 | 0.6 | 0.8 | 1.1 | 0.0% |
| Iran | 15.5 | 1.3 | N/A | N/A | -91.6% |
| Others | 5.8 | 4.1 | 3.4 | 10.2 | 20.7% |
| Total | 23.2 | 10.6 | 17.9 | 73.0 | 46.5% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Turkey in 2022:
- Egypt (3144.5 tons)
- Netherlands (2383.2 tons)
- Morocco (2077.3 tons)
- Israel (776.0 tons)
- Russia (773.8 tons)
- Azerbaijan (739.7 tons)
- Serbia (579.2 tons)
- United Arab Emirates (444.6 tons)
- Tunisia (250.0 tons)
- Oman (229.5 tons)
- Lebanon (229.5 tons)
- Cyprus (183.4 tons)
- Iran (1.7 tons)
Imports of Butter and Other Fats and Oils Derived from Milk in Turkey
In 2022, imports of butter and other fats and oils derived from milk into Turkey shrank rapidly to 1.4K tons, waning by -32.6% on the previous year's figure. Overall, imports saw a dramatic contraction.
In value terms, imports of butter and other fats and oils derived from milk shrank slightly to $9.1M in 2022. Over the period under review, imports showed a dramatic decline.
| Import of Butter and Other Fats and Oils Derived from Milk in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 2.9 | 1.8 | 0.9 | 5.3 | 22.3% |
| Ireland | 14.6 | 17.2 | 1.0 | 0.9 | -60.5% |
| Poland | 4.4 | 3.1 | 0.4 | 0.6 | -48.5% |
| Pakistan | N/A | N/A | N/A | 0.5 | 0% |
| Morocco | N/A | N/A | N/A | 0.5 | 0% |
| Germany | 3.0 | 1.3 | 0.4 | 0.4 | -48.9% |
| Ukraine | 2.6 | N/A | N/A | 0.1 | -66.2% |
| New Zealand | 7.3 | 1.4 | 0.2 | N/A | -83.4% |
| Belgium | 3.8 | 1.3 | 0.5 | N/A | -63.7% |
| Australia | N/A | 1.4 | 0.8 | N/A | -42.9% |
| India | 14.4 | 0.7 | 0.6 | N/A | -79.6% |
| Portugal | 1.4 | 1.1 | N/A | N/A | -21.4% |
| Others | 3.0 | 6.2 | 4.7 | 0.8 | -35.6% |
| Total | 57.5 | 35.5 | 9.3 | 9.1 | -45.9% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Turkey in 2022:
- Netherlands (734.8 tons)
- Ireland (139.3 tons)
- Pakistan (105.0 tons)
- Poland (82.0 tons)
- Morocco (80.0 tons)
- Germany (56.7 tons)
- Ukraine (48.7 tons)
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