Price for Cereal Groats and Meal; of Maize (Corn) in Turkey - 2023
Contents:
- Price for Cereal Groats and Meal; of Maize (Corn) in Turkey (FOB) - 2023
- Price for Cereal Groats and Meal; of Maize (Corn) in Turkey (CIF) - 2022
- Exports of Cereal Groats and Meal; of Maize (Corn) in Turkey
- Imports of Cereal Groats and Meal; of Maize (Corn) in Turkey
Price for Cereal Groats and Meal; of Maize (Corn) in Turkey (FOB) - 2023
In December 2023, the average export price for cereal groats and meal; of maize (corn)s amounted to $390 per ton, approximately equating the previous month. In general, the export price continues to indicate a slight setback. The pace of growth was the most pronounced in April 2023 an increase of 3% against the previous month. As a result, the export price reached the peak level of $467 per ton. From May 2023 to December 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In December 2023, the highest price was recorded for prices to Israel ($469 per ton) and Cote d'Ivoire ($445 per ton), while the average price for exports to Syrian Arab Republic ($327 per ton) and Egypt ($330 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (-0.4%), while the prices for the other major destinations experienced a decline.
Price for Cereal Groats and Meal; of Maize (Corn) in Turkey (CIF) - 2022
In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $1,375 per ton, declining by -40.9% against the previous year. Over the period under review, the import price, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2021 an increase of 86% against the previous year. As a result, import price reached the peak level of $2,327 per ton, and then fell sharply in the following year.
As there is only one major supplying country, the average price level is determined by prices for Italy.
From 2012 to 2022, the rate of growth in terms of prices for Iraq amounted to +1.3% per year.
Exports of Cereal Groats and Meal; of Maize (Corn) in Turkey
In 2022, the amount of cereal groats and meal; of maize (corn)s exported from Turkey was estimated at 119K tons, increasing by 10% against the previous year. The total export volume increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of cereal groats and meal; of maize (corn)s surged to $50M in 2022. Overall, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.4% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Cereal Groats and Meal; of Maize (Corn) in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iraq | 10.5 | 8.7 | 11.0 | 13.2 | 7.9% |
| Yemen | 4.5 | 5.0 | 4.9 | 8.3 | 22.6% |
| Egypt | 2.9 | 3.6 | 4.2 | 4.2 | 13.1% |
| Angola | 1.9 | 1.8 | 1.9 | 3.5 | 22.6% |
| Cote d'Ivoire | 0.5 | 0.7 | 1.8 | 2.8 | 77.6% |
| Israel | 1.5 | 1.3 | 1.6 | 2.7 | 21.6% |
| Burkina Faso | 0.1 | 0.1 | 1.1 | 2.1 | 175.9% |
| Lebanon | 1.4 | 1.2 | 1.2 | 1.9 | 10.7% |
| Algeria | 0.1 | 0.4 | 0.8 | 1.6 | 152.0% |
| Syrian Arab Republic | 1.4 | 1.5 | 1.4 | 1.0 | -10.6% |
| Cameroon | 0.1 | 0.2 | 0.6 | 1.0 | 115.4% |
| Nigeria | 1.6 | 2.1 | 0.4 | 0.9 | -17.5% |
| Others | 5.0 | 5.7 | 5.1 | 7.1 | 12.4% |
| Total | 31.3 | 32.3 | 36.0 | 50.2 | 17.1% |
Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from Turkey in 2022:
- Iraq (35.4K tons)
- Yemen (18.3K tons)
- Egypt (9.6K tons)
- Angola (8.3K tons)
- Cote d'Ivoire (6.5K tons)
- Israel (5.5K tons)
- Burkina Faso (5.0K tons)
- Lebanon (4.2K tons)
- Algeria (3.7K tons)
- Syrian Arab Republic (2.9K tons)
- Cameroon (2.2K tons)
- Nigeria (2.0K tons)
Imports of Cereal Groats and Meal; of Maize (Corn) in Turkey
In 2022, the amount of cereal groats and meal; of maize (corn)s imported into Turkey skyrocketed to 11 tons, growing by 1,264% compared with the previous year's figure. Over the period under review, imports, however, recorded a dramatic shrinkage.
In value terms, imports of cereal groats and meal; of maize (corn)s soared to $15K in 2022. In general, imports, however, recorded a dramatic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 1,554%.
| Import of Cereal Groats and Meal; of Maize (Corn) in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 0.1 | N/A | N/A | 15.2 | 433.7% |
| Jordan | 8.8 | N/A | N/A | N/A | 0% |
| Lebanon | 12.8 | N/A | 1.7 | N/A | -63.6% |
| Iraq | 10.6 | N/A | 0.1 | N/A | -90.3% |
| Ukraine | 2.9 | N/A | 0.1 | N/A | -81.4% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 35.2 | 0.1 | 1.9 | 15.2 | -24.4% |
Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Turkey in 2022:
- Italy (11.1 tons)
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