Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey (FOB) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey (CIF) - 2023
3. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey
4. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey (FOB) - 2023

The average export price for liquid margarine and edible mixtures of animal or vegetable fats stood at $1,416 per ton in November 2023, growing by 4.8% against the previous month. In general, the export price, however, saw a slight curtailment. The export price peaked at $1,792 per ton in March 2023; however, from April 2023 to November 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In November 2023, the highest price was recorded for prices to Turkmenistan ($1,663 per ton) and Israel ($1,551 per ton), while the average price for exports to Uzbekistan ($1,269 per ton) and Georgia ($1,272 per ton) were amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (-0.3%), while the prices for the other major destinations experienced a decline.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey (CIF) - 2023

In November 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,446 per ton, which is down by -19.2% against the previous month. In general, the import price showed a perceptible shrinkage. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 24% against the previous month. As a result, import price reached the peak level of $2,488 per ton. From June 2023 to November 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Spain ($3,175 per ton), while the price for Indonesia ($1,125 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.6%), while the prices for the other major suppliers experienced a decline.

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey

In 2022, approx. 106K tons of liquid margarine and edible mixtures of animal or vegetable fats were exported from Turkey; shrinking by -7.8% compared with the previous year's figure. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +7.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 74% against the previous year. As a result, the exports reached the peak of 115K tons, and then declined in the following year.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats surged to $193M in 2022. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 142% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in the near future.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Turkey in 2022:

1. Iraq (55.7K tons)
2. Syrian Arab Republic (21.2K tons)
3. Romania (8.2K tons)
4. Lebanon (3.5K tons)
5. Georgia (1.7K tons)

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Turkey

In 2022, purchases abroad of liquid margarine and edible mixtures of animal or vegetable fats was finally on the rise to reach 23K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a deep reduction.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats skyrocketed to $57M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +10.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Turkey in 2022:

1. Indonesia (15.3K tons)
2. Netherlands (2.9K tons)
3. Sweden (1.5K tons)
4. Malaysia (1.3K tons)
5. Russia (0.5K tons)

Source: IndexBox Market Intelligence Platform