Turkey - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Kernel Oil Price in Turkey - 2023
Contents:
- Palm Kernel Oil Price in Turkey (CIF) - 2023
- Palm Kernel Oil Price in Turkey (FOB) - 2023
- Palm Kernel Oil Imports in Turkey
- Palm Kernel Oil Exports in Turkey
Palm Kernel Oil Price in Turkey (CIF) - 2023
In September 2023, the average palm kernel oil import price amounted to $1,038 per ton, increasing by 1.5% against the previous month. Over the period under review, the import price, however, showed a pronounced contraction. The pace of growth appeared the most rapid in June 2023 when the average import price increased by 45% month-to-month. Over the period under review, average import prices hit record highs at $1,667 per ton in September 2022; however, from October 2022 to September 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 September 2022 to September 2023, the rate of growth in terms of prices for Indonesia amounted to -1.9% per month.
Palm Kernel Oil Price in Turkey (FOB) - 2023
In September 2023, the average palm kernel oil export price amounted to $1,367 per ton, increasing by 51% against the previous month. Overall, export price indicated slight growth from September 2022 to September 2023: its price increased at an average monthly rate of +1.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, palm kernel oil export price increased by +28.5% against May 2023 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was Italy ($1,412 per ton), while the average price for exports to Ukraine stood at $904 per ton.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+0.0%), while the prices for the other major destinations experienced more modest paces of growth.
Palm Kernel Oil Imports in Turkey
After three years of growth, supplies from abroad of palm kernel and babassu oil decreased by -6.6% to 84K tons in 2022. The total import volume increased at an average annual rate of +8.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of 90K tons, and then shrank in the following year.
In value terms, palm kernel oil imports skyrocketed to $140M in 2022. Over the period under review, imports, however, posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.
Import of Palm Kernel Oil in Turkey (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 48.4 | 53.2 | 103 | 122 | 36.1% |
Indonesia | 4.7 | 9.4 | 7.9 | 17.9 | 56.2% |
Others | 0.3 | 0.3 | N/A | 0.2 | -12.6% |
Total | 53.4 | 62.8 | 110 | 140 | 37.9% |
Top Suppliers of Palm Kernel Oil to Turkey in 2022:
- Malaysia (75.3K tons)
- Indonesia (9.1K tons)
Palm Kernel Oil Exports in Turkey
Palm kernel oil exports from Turkey skyrocketed to 9.8K tons in 2022, with an increase of 116% on the year before. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 188%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, palm kernel oil exports soared to $14M in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 215% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
Export of Palm Kernel Oil in Turkey (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Georgia | 0.4 | 0.3 | 2.0 | 8.0 | 171.4% |
Russia | 0.6 | 2.0 | 4.0 | 5.2 | 105.4% |
Greece | N/A | 0.7 | 0.4 | 0.9 | 13.4% |
Ukraine | N/A | 0.1 | N/A | 0.2 | 41.4% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 1.0 | 3.2 | 6.4 | 14.3 | 142.7% |
Top Export Markets for Palm Kernel Oil from Turkey in 2022:
- Russia (5.0K tons)
- Georgia (3.5K tons)
- Greece (1.1K tons)
- Ukraine (0.2K tons)
This report provides an in-depth analysis of the palm kernel 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 258 - Oil of Palm Kernel
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
This report provides an in-depth analysis of the palm kernel oil market in Turkey.
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This report provides an in-depth analysis of the coconut oil market in Turkey.
This report provides an in-depth analysis of the refined coconut oil market in Turkey.
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This report provides an in-depth analysis of the global palm kernel oil market.
This report provides an in-depth analysis of the global crude coconut oil market.
This report provides an in-depth analysis of the global coconut oil market.
This report provides an in-depth analysis of the global refined coconut oil market.
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In March 2023, the palm kernel oil price amounted to $1,321 per ton (CIF, Turkey), surging by 4.2% against the previous month.
In January 2023, the coconut oil price amounted to $2,258 per ton (CIF, Turkey), rising by 28% against the previous month.
Prices for palm kernel oil spiked by 27% over the month, reaching $1,807 in October 2021. Compared to this year's January figures, the prices soared by +32%. In 2020, palm kernel exports dropped by -3.1% y-o-y in physical terms but grew by +8.9% y-o-y in value terms, reaching $2.5B. Indonesia remains the largest supplier, accounting for 56% of global exports of palm kernel oil. China, the U.S. and Germany constitute the most prominent importers of the product.
Global palm kernel oil consumption amounted to X thousand tons in 2015, surging by +X% against the previous year level.
In 2015, the countries with the highest levels of palm kernel and babassu oil production were Indonesia (X thousand tons), Malaysia (X thousand tons), Thailand (X thousand tons), together accounting for X% of total output.
Indonesia continued its dominance in the global trade of palm kernel and babassu oil. In 2014, Indonesia exported X thousand tons of palm kernel and babassu oil totaling X million USD, X% over the previous year. Its primary trading partner w
From 2007 to 2016, the value of the global coconut oil market showed an unstable dynamic trend. However, in 2016, the value of the global coconut oil market expanded to X billion USD. The main reason for this can be explained by the rise in the price
Global coconut oil consumption amounted to X thousand tons in 2015, approximately equating the previous year level.
Global coconut oil exports amounted to X thousand tons in 2015, flattening at the previous year level.
Global coconut oil imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.