Report Update: May 1, 2024

Turkey - Crude Palm Oil - Market Analysis, Forecast, Size, Trends And Insights

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Crude Palm Oil Price in Turkey - 2023

Crude Palm Oil Price in Turkey (FOB) - 2022

In 2022, the average crude palm oil export price amounted to $812 per ton, shrinking by -2.7% against the previous year. Overall, the export price showed a abrupt contraction. The pace of growth appeared the most rapid in 2014 an increase of 62%. As a result, the export price reached the peak level of $2,181 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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 Bosnia and Herzegovina ($4,349 per ton), while the average price for exports to Moldova totaled $2,059 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+29.3%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Palm Oil Price in Turkey (CIF) - 2023

In July 2023, the average crude palm oil import price amounted to $964 per ton, dropping by -71.9% against the previous month. In general, the import price showed a drastic downturn. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 1,014% month-to-month. Over the period under review, average import prices reached the maximum at $9,200 per ton in December 2022; however, from January 2023 to July 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Malaysia.

From July 2022 to July 2023, the rate of growth in terms of prices for Malaysia amounted to -0.5% per month.

Crude Palm Oil Exports in Turkey

In 2022, after three years of growth, there was significant decline in shipments abroad of crude palm oil, when their volume decreased by -13.2% to 29K tons. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 137,656% against the previous year.

In value terms, crude palm oil exports shrank significantly to $23M in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 60,070%.

Export of Crude Palm Oil in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Bosnia and Herzegovina	N/A	N/A	N/A	N/A	0%
Italy	N/A	9.1	26.5	N/A	191.2%
Moldova	N/A	N/A	N/A	N/A	0%
Others	N/A	1.7	1.3	23.4	271.0%
Total	N/A	10.7	27.8	23.5	48.2%

Top Export Markets for Crude Palm Oil from Turkey in 2022:

Moldova (undefinedK tons)
Bosnia and Herzegovina (undefinedK tons)

Crude Palm Oil Imports in Turkey

In 2022, crude palm oil imports into Turkey was estimated at 20K tons, increasing by 9.2% on the previous year's figure. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 9,585%. As a result, imports reached the peak of 30K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, crude palm oil imports expanded remarkably to $24M in 2022. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 14,581% against the previous year. As a result, imports reached the peak of $25M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Crude Palm Oil in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	N/A	N/A	N/A	N/A	0%
Russia	N/A	N/A	N/A	N/A	0%
Malaysia	N/A	1.1	0.2	N/A	-81.8%
United Kingdom	N/A	0.1	N/A	N/A	0%
Indonesia	0.1	23.5	6.0	N/A	674.6%
Italy	N/A	N/A	14.5	N/A	0%
United States	N/A	N/A	N/A	N/A	0%
Others	N/A	0.4	0.1	23.6	668.1%
Total	0.2	25.1	20.7	23.6	390.5%

Top Suppliers of Crude Palm Oil to Turkey in 2022:

United States (undefinedK tons)
United Kingdom (undefinedK tons)
Malaysia (undefinedK tons)
Russia (undefinedK tons)
Hong Kong SAR (undefinedK tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the crude palm 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:

FCL 257 - Oil of palm

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023