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Turkey - Walnuts - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Mar 6, 2023
Walnut Price in Turkey Rises Markedly to $1,707 per Ton
Turkey Walnut Import Price in December 2022
In December 2022, the walnut price amounted to $1,707 per ton (CIF, Turkey), rising by 14% against the previous month. In general, the import price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in July 2022 an increase of 22% month-to-month. The import price peaked at $2,879 per ton in February 2022; however, from March 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($2,400 per ton), while the price for Ukraine ($952 per ton) was amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Iran (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Turkey Walnut Imports
In December 2022, the amount of walnuts imported into Turkey skyrocketed to 5.4K tons, rising by 385% compared with the month before. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in June 2022 with an increase of 674% against the previous month. Over the period under review, imports reached the maximum at 11K tons in January 2022; however, from February 2022 to December 2022, imports remained at a lower figure.
In value terms, walnut imports skyrocketed to $9.2M (IndexBox estimates) in December 2022. Overall, imports, however, faced a abrupt setback. The growth pace was the most rapid in June 2022 when imports increased by 752% m-o-m. Imports peaked at 32K tons in January 2022; however, from February 2022 to December 2022, imports stood at a somewhat lower figure.
Turkey Walnut Imports by Country
In December 2022, the United States (2.7K tons) constituted the largest walnut supplier to Turkey, accounting for a 51% share of total imports. Moreover, walnut imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (1K tons), threefold. The third position in this ranking was held by Ukraine (769 tons), with a 14% share.
From January 2022 to December 2022, the average monthly growth rate of volume from the United States amounted to -8.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Chile (+7.5% per month) and Ukraine (+30.8% per month).
In value terms, the United States ($5.4M) constituted the largest supplier of walnut to Turkey, comprising 58% of total imports. The second position in the ranking was taken by Chile ($1.7M), with an 18% share of total imports. It was followed by Ukraine, with a 7.9% share.
From January 2022 to December 2022, the average monthly rate of growth in terms of value from the United States stood at -11.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: Chile (+3.6% per month) and Ukraine (+25.3% per month).
Walnut Market Overview
The walnut market in Turkey is booming and has been for some time. This is due, in part, to the country's vast reserves of walnuts. Turkey is the world's leading producer of walnuts, accounting for nearly 7% of global production. Most Turkish walnuts are grown in the Black Sea region, home to the country's largest walnut processors and exporters.
Prices usually peak in early autumn, just before the harvest, and then drop off sharply afterwards. This is due to increased supply and lower demand at that time of year. However, prices can also be affected by political factors, such as trade disputes or embargoes.
The increase in walnut prices is due to a number of factors, including higher demand from China and other Asian countries, and a decrease in production in Turkey due to bad weather conditions.
This report provides an in-depth analysis of the walnut 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:
• FCL 222 - Walnuts
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Area Harvested, 2012–2022
Figure 24:
Yield, 2012–2022
Figure 25:
Imports, In Physical Terms, 2012–2022
Figure 26:
Imports, In Value Terms, 2012–2022
Figure 27:
Imports, In Physical Terms, By Country, 2022
Figure 28:
Imports, In Physical Terms, By Country, 2012–2022
Figure 29:
Imports, In Value Terms, By Country, 2012–2022
Figure 30:
Import Prices, By Country Of Origin, 2012–2022
Figure 31:
Exports, In Physical Terms, 2012–2022
Figure 32:
Exports, In Value Terms, 2012–2022
Figure 33:
Exports, In Physical Terms, By Country, 2022
Figure 34:
Exports, In Physical Terms, By Country, 2012–2022
Figure 35:
Exports, In Value Terms, By Country, 2012–2022
Figure 36:
Export Prices, By Country Of Destination, 2012–2022
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