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Turkey - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTurkey: Refined Groundnut Oil Market 2024
Refined Groundnut Oil Market Size in Turkey
In 2023, after three years of growth, there was significant decline in the Turkish refined groundnut oil market, when its value decreased by X% to $X. Over the period under review, consumption, however, recorded a prominent increase. Refined groundnut oil consumption peaked at $X in 2022, and then shrank in the following year.
Refined Groundnut Oil Production in Turkey
In value terms, refined groundnut oil production fell to $X in 2023 estimated in export price. Over the period under review, production, however, showed a buoyant increase. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2022, and then fell in the following year.
Refined Groundnut Oil Exports
Exports from Turkey
In 2023, after six years of decline, there was significant growth in shipments abroad of refined groundnut oil, when their volume increased by X% to X kg. Overall, exports, however, showed a dramatic setback. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
In value terms, refined groundnut oil exports expanded to $X in 2023. Over the period under review, exports, however, faced a sharp curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Togo (X kg) was the main destination for refined groundnut oil exports from Turkey, accounting for a X% share of total exports. Moreover, refined groundnut oil exports to Togo exceeded the volume sent to the second major destination, Belgium (X kg), twofold. The third position in this ranking was taken by Benin (X kg), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Togo totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Benin (X% per year).
In value terms, Belgium ($X) remains the key foreign market for refined groundnut oil exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Benin, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Belgium totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Benin (X% per year).
Export Prices by Country
In 2023, the average refined groundnut oil export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, posted a strong expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2022, and then shrank in the following year.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Refined Groundnut Oil Imports
Imports into Turkey
Refined groundnut oil imports into Turkey skyrocketed to X tons in 2023, growing by X% on the year before. Overall, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Imports peaked in 2023 and are expected to retain growth in years to come.
In value terms, refined groundnut oil imports dropped to $X in 2023. Over the period under review, imports saw a prominent increase. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2022, and then reduced in the following year.
Imports by Country
Germany (X tons), Italy (X tons) and Belgium (X tons) were the main suppliers of refined groundnut oil imports to Turkey, with a combined X% share of total imports. India, France and the United States lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Germany ($X) constituted the largest supplier of refined groundnut oil to Turkey, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Belgium (X% per year).
Import Prices by Country
The average refined groundnut oil import price stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, refined groundnut oil import price decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the refined groundnut 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:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
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
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