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Turkey - Vegetable Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTurkey: Vegetable Oils Market 2024
Vegetable Oils Market Size in Turkey
In 2023, the Turkish vegetable oils market increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption saw a relatively flat trend pattern. Vegetable oils consumption peaked in 2023 and is expected to retain growth in the near future.
Vegetable Oils Production in Turkey
In value terms, vegetable oils production fell modestly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.
Vegetable Oils Exports
Exports from Turkey
In 2023, after two years of growth, there was significant decline in overseas shipments of vegetable fats and oils, when their volume decreased by X% to X tons. Overall, exports showed a sharp setback. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
In value terms, vegetable oils exports shrank remarkably to $X in 2023. In general, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
Exports by Country
Iraq (X tons), Ghana (X tons) and Iran (X tons) were the main destinations of vegetable oils exports from Turkey, together comprising X% of total exports. Russia, Azerbaijan, Syrian Arab Republic, Uzbekistan, Afghanistan, Kyrgyzstan, the Netherlands, Kazakhstan, Lebanon and Serbia lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Russia ($X), Iraq ($X) and Ghana ($X) constituted the largest markets for vegetable oils exported from Turkey worldwide, with a combined X% share of total exports. Iran, Azerbaijan, Uzbekistan, Syrian Arab Republic, Afghanistan, Serbia, Kazakhstan, Lebanon, Kyrgyzstan and the Netherlands lagged somewhat behind, together accounting for a further X%.
Uzbekistan, with a CAGR of X%, saw 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.
Export Prices by Country
The average vegetable oils export price stood at $X per ton in 2023, which is down by X% against the previous year. In general, export price indicated pronounced growth 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, vegetable oils export price increased by X% against 2019 indices. The growth pace was the most rapid in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced markedly in the following year.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the Netherlands ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Vegetable Oils Imports
Imports into Turkey
In 2023, purchases abroad of vegetable fats and oils increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked in 2023 and are expected to retain growth in years to come.
In value terms, vegetable oils imports contracted rapidly to $X in 2023. Over the period under review, total imports indicated a modest expansion from 2012 to 2023: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2022, and then plummeted in the following year.
Imports by Country
Malaysia (X tons), Indonesia (X tons) and India (X tons) were the main suppliers of vegetable oils imports to Turkey, together comprising X% of total imports. France lagged somewhat behind, comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest vegetable oils suppliers to Turkey were Malaysia ($X), Indonesia ($X) and India ($X), together comprising X% of total imports. France lagged somewhat behind, accounting for a further X%.
France, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average vegetable oils import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then declined notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the vegetable oils 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 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
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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