Turkey's Container Prices Drop to $194 per Thousand Units Following Consecutive Monthly Decline

Turkey Container Export Price in March 2023

In March 2023, the container price amounted to $194 per thousand units (FOB, Turkey), flattening at the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 12% m-o-m. As a result, the export price reached the peak level of $211 per thousand units. From February 2023 to March 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In March 2023, the country with the highest price was Russia ($260 per thousand units), while the average price for exports to Greece ($147 per thousand units) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Container Export Prices by Type

Average prices varied somewhat for the major types of exported product. In March 2023, the product with the highest price was aluminium casks, drums, cans, boxes etc (including rigid, collapsible tubular containers), for materials other than compressed, liquefied gas, 300l capacity or less, lined, heat-insulated or not ($232 per thousand units), while the average price for exports of tanks, casks, drums, cans, boxes and similar containers, for any material (excluding compressed or liquefied gas), of iron or steel, capacity not exceeding 300l, whether or not lined or heat-insulated amounted to $182 per thousand units.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for the following types: aluminium casks, drums, cans, boxes etc (including rigid, collapsible tubular containers), for materials other than compressed, liquefied gas, 300l capacity or less, lined, heat-insulated or not (+1.3%).

Turkey Container Exports

In March 2023, after six months of decline, there was significant growth in overseas shipments of tanks, casks, drums, cans, boxes and similar containers, when their volume increased by 28% to 157M units. In general, exports showed a relatively flat trend pattern. The exports peaked at 182M units in June 2022; however, from July 2022 to March 2023, the exports failed to regain momentum.

In value terms, container exports skyrocketed to $30M (IndexBox estimates) in March 2023. The total export value increased at an average monthly rate of +1.5% over the period from March 2022 to March 2023; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The exports peaked at 32M units in August 2022; however, from September 2022 to March 2023, the exports remained at a lower figure.

Turkey Container Exports by Type

Tanks, casks, drums, cans, boxes and similar containers, for any material (excluding compressed or liquefied gas), of iron or steel, capacity not exceeding 300l, whether or not lined or heat-insulated (119M units) was the largest type of container exported from Turkey, with a 76% share of total exports. Moreover, tanks, casks, drums, cans, boxes and similar containers, for any material (excluding compressed or liquefied gas), of iron or steel, capacity not exceeding 300l, whether or not lined or heat-insulated exceeded the volume of the second product type, aluminium casks, drums, cans, boxes etc (including rigid, collapsible tubular containers), for materials other than compressed, liquefied gas, 300l capacity or less, lined, heat-insulated or not (38M units), threefold.

From March 2022 to March 2023, the average monthly rate of growth in terms of the volume of export of tanks, casks, drums, cans, boxes and similar containers, for any material (excluding compressed or liquefied gas), of iron or steel, capacity not exceeding 300l, whether or not lined or heat-insulated was relatively modest.

In value terms, tanks, casks, drums, cans, boxes and similar containers, for any material (excluding compressed or liquefied gas), of iron or steel, capacity not exceeding 300l, whether or not lined or heat-insulated ($22M) remains the largest type of container exported from Turkey, comprising 71% of total exports. The second position in the ranking was taken by aluminium casks, drums, cans, boxes etc (including rigid, collapsible tubular containers), for materials other than compressed, liquefied gas, 300l capacity or less, lined, heat-insulated or not ($8.8M), with a 29% share of total exports.

From March 2022 to March 2023, the average monthly growth rate of the export volume of tanks, casks, drums, cans, boxes and similar containers, for any material (excluding compressed or liquefied gas), of iron or steel, capacity not exceeding 300l, whether or not lined or heat-insulated stood at +1.3%.

Turkey Container Exports by Country

The UK (22M units), Greece (11M units) and Israel (11M units) were the main destinations of container exports from Turkey, with a combined 28% share of total exports. These countries were followed by France, Russia, Egypt, Poland, Georgia, Iraq, Algeria, Spain, Bulgaria and Germany, which together accounted for a further 41%.

From March 2022 to March 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +12.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for container exported from Turkey were the UK ($3.8M), Russia ($2.2M) and Israel ($1.8M), with a combined 26% share of total exports.

Russia, with a CAGR of +15.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform