Report Update: May 1, 2024

Turkey - Ground-Nut - Market Analysis, Forecast, Size, Trends and Insights

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Groundnuts Price in Turkey - 2023

Groundnuts Price in Turkey (FOB) - 2022

The average groundnuts export price stood at $1,478 per ton in 2022, dropping by -3.7% against the previous year. Overall, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 144% against the previous year. Over the period under review, the average export prices reached the maximum at $3,152 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($1,997 per ton), while the average price for exports to Syrian Arab Republic ($431 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+1.1%), while the prices for the other major destinations experienced a decline.

Groundnuts Price in Turkey (CIF) - 2023

In July 2023, the average groundnuts import price amounted to $1,627 per ton, remaining relatively unchanged against the previous month. Overall, import price indicated a pronounced increase from October 2022 to July 2023: its price increased at an average monthly rate of +2.1% over the last nine-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, groundnuts import price increased by +16.6% against March 2023 indices. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 238% m-o-m. Over the period under review, average import prices hit record highs at $1,648 per ton in June 2023, and then contracted slightly in the following month.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was China ($1,764 per ton), while the price for Egypt totaled $1,606 per ton.

From October 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Groundnuts Exports in Turkey

In 2022, the amount of ground-nut (in-shell) exported from Turkey reduced to 3.1K tons, dropping by -7.8% against 2021. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 2,374%. As a result, the exports reached the peak of 3.4K tons, and then declined in the following year.

In value terms, groundnuts exports shrank to $4.7M in 2022. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 1,435% against the previous year. As a result, the exports attained the peak of $5.2M, and then fell in the following year.

Export of Groundnuts in Turkey (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Slovakia	N/A	N/A	1,865	1,703	-8.7%
Spain	N/A	N/A	1,029	449	-56.4%
Italy	N/A	N/A	487	329	-32.4%
Hungary	N/A	N/A	136	238	75.0%
Georgia	5.5	N/A	4.5	182	221.0%
Poland	N/A	N/A	N/A	172	0%
Bosnia and Herzegovina	N/A	N/A	37.7	158	319.1%
Azerbaijan	N/A	10.7	49.0	147	270.7%
Bulgaria	N/A	N/A	56.4	129	128.7%
Iraq	202	69.7	310	124	-15.0%
Jordan	N/A	N/A	22.0	115	422.7%
Serbia	N/A	N/A	79.8	103	29.1%
Syrian Arab Republic	313	N/A	273	49.7	-45.8%
Others	229	261	893	752	48.6%
Total	749	341	5,242	4,652	83.8%

Top Export Markets for Groundnuts from Turkey in 2022:

Slovakia (1089.7 tons)
Spain (313.5 tons)
Italy (222.6 tons)
Hungary (151.8 tons)
Azerbaijan (129.5 tons)
Poland (125.3 tons)
Bosnia and Herzegovina (119.0 tons)
Syrian Arab Republic (115.2 tons)
Jordan (92.1 tons)
Georgia (91.3 tons)
Bulgaria (90.7 tons)
Serbia (78.6 tons)
Iraq (75.7 tons)

Groundnuts Imports in Turkey

Groundnuts imports into Turkey surged to 902 tons in 2022, growing by 87% against the previous year. Over the period under review, imports, however, faced a abrupt descent.

In value terms, groundnuts imports skyrocketed to $1.5M in 2022. In general, imports, however, saw a perceptible slump. The growth pace was the most rapid in 2020 when imports increased by 87%. As a result, imports attained the peak of $3.2M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Groundnuts in Turkey (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Egypt	1,199	2,724	1,057	1,378	4.7%
Russia	N/A	N/A	N/A	45.8	0%
Iran	5.0	37.4	6.4	37.0	94.9%
Portugal	N/A	N/A	N/A	29.8	0%
China	388	459	N/A	N/A	18.3%
Sudan	126	N/A	N/A	N/A	0%
Others	7.7	N/A	38.6	20.1	37.7%
Total	1,726	3,221	1,102	1,510	-4.4%

Top Suppliers of Groundnuts to Turkey in 2022:

Egypt (734.9 tons)
Iran (100.1 tons)
Russia (31.2 tons)
Portugal (16.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the groundnuts 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 242 - Groundnuts, in shell

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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, HARVESTED AREA AND YIELD
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023