Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey - 2024

Contents:

1. Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey (FOB) - 2022
2. Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey (CIF) - 2022
3. Exports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey
4. Imports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey

Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey (FOB) - 2022

The average export price for powdered unsweetened milk and cream of fat weight content over 1.5% stood at $4,507 per ton in 2022, increasing by 24% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for powdered unsweetened milk and cream of fat weight content over 1.5% increased by +134.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 89%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($5,201 per ton), while the average price for exports to Azerbaijan ($2,805 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+35.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey (CIF) - 2022

In 2022, the average import price for powdered unsweetened milk and cream of fat weight content over 1.5% amounted to $3,914 per ton, growing by 8% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 364% against the previous year. Over the period under review, average import prices reached the peak figure at $5,749 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Iran ($15,821 per ton), while the price for Ireland ($2,178 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey

In 2022, the amount of powdered unsweetened milk and cream of fat weight content over 1.5% exported from Turkey declined to 3.9K tons, which is down by -4.1% compared with the year before. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +11.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 85%. As a result, the exports attained the peak of 4.1K tons, and then fell modestly in the following year.

In value terms, exports of powdered unsweetened milk and cream of fat weight content over 1.5% surged to $18M in 2022. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 249%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% from Turkey in 2022:

1. Egypt (654.4 tons)
2. Qatar (634.1 tons)
3. Syrian Arab Republic (257.8 tons)
4. Cote d'Ivoire (100.0 tons)
5. Iraq (59.6 tons)
6. United Arab Emirates (42.0 tons)
7. Somalia (39.2 tons)
8. Cyprus (17.8 tons)
9. Azerbaijan (13.1 tons)

Imports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Turkey

In 2022, the amount of powdered unsweetened milk and cream of fat weight content over 1.5% imported into Turkey skyrocketed to 519 tons, jumping by 480% compared with the year before. Overall, imports, however, recorded a sharp setback.

In value terms, imports of powdered unsweetened milk and cream of fat weight content over 1.5% soared to $2M in 2022. In general, imports continue to indicate a moderate expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% to Turkey in 2022:

1. Netherlands (48.9 tons)
2. Malaysia (31.2 tons)
3. Ireland (30.5 tons)
4. Iran (28.3 tons)
5. Egypt (22.7 tons)
6. Djibouti (5.4 tons)
7. New Zealand (4.8 tons)

Source: IndexBox Market Intelligence Platform