Turkey - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in Turkey - 2023
Contents:
- Urea Price in Turkey (CIF) - 2023
- Urea Price in Turkey (FOB) - 2023
- Urea Imports in Turkey
- Urea Exports in Turkey
Urea Price in Turkey (CIF) - 2023
The average urea import price stood at $325 per ton in July 2023, dropping by -8.1% against the previous month. Over the period under review, the import price saw a deep setback. The pace of growth was the most pronounced in October 2022 an increase of 2.8% against the previous month. The import price peaked at $665 per ton in July 2022; however, from August 2022 to July 2023, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the countries with the highest prices were Bahrain ($382 per ton) and Turkmenistan ($373 per ton), while the price for Azerbaijan ($280 per ton) and Oman ($311 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Bahrain (+0.1%), while the prices for the other major suppliers experienced a decline.
Urea Price in Turkey (FOB) - 2023
In July 2023, the average urea export price amounted to $340 per ton, therefore, remained relatively stable against the previous month. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 10% against the previous month. As a result, the export price attained the peak level of $729 per ton. From November 2022 to July 2023, the the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In July 2023, the country with the highest price was Marshall Islands ($375 per ton), while the average price for exports to Syrian Arab Republic amounted to $326 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Marshall Islands (0.0%), while the prices for the other major destinations experienced a decline.
Urea Imports in Turkey
In 2022, the amount of urea imported into Turkey rose modestly to 2.6M tons, picking up by 1.8% against 2021. In general, imports, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 15%.
In value terms, urea imports skyrocketed to $1.7B in 2022. Overall, imports saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 93% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Urea in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Oman | N/A | N/A | N/A | 964 | 0% |
| Egypt | 343 | 263 | 504 | 217 | -14.2% |
| Turkmenistan | 66.1 | 75.3 | 274 | 179 | 39.4% |
| Russia | 42.1 | 6.9 | 2.9 | 125 | 43.7% |
| Iran | 215 | 159 | 144 | 103 | -21.8% |
| Qatar | N/A | N/A | N/A | 44.6 | 0% |
| Others | 45.2 | 83.4 | 212 | 63.4 | 11.9% |
| Total | 712 | 588 | 1,136 | 1,696 | 33.6% |
Top Suppliers of Urea to Turkey in 2022:
- Oman (1507.9K tons)
- Egypt (309.1K tons)
- Turkmenistan (278.3K tons)
- Russia (210.7K tons)
- Iran (147.7K tons)
- Qatar (44.1K tons)
Urea Exports in Turkey
In 2022, overseas shipments of urea increased by 463% to 216K tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, urea exports skyrocketed to $135M in 2022. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Urea in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | 0.4 | 0.3 | 0.2 | 30.5 | 324.0% |
| Syrian Arab Republic | N/A | N/A | N/A | 19.3 | 0% |
| Ukraine | N/A | N/A | N/A | 14.7 | 0% |
| Italy | N/A | 0.3 | N/A | 12.1 | 535.1% |
| Croatia | N/A | N/A | N/A | 6.2 | 0% |
| Israel | N/A | 2.2 | 1.1 | 6.0 | 65.1% |
| Romania | N/A | N/A | 8.9 | 5.6 | -37.1% |
| United States | N/A | N/A | N/A | 4.7 | 0% |
| Bulgaria | 0.1 | 0.1 | 0.2 | 4.7 | 260.9% |
| Switzerland | N/A | N/A | N/A | 4.0 | 0% |
| Germany | N/A | N/A | 0.3 | 3.9 | 1200.0% |
| Spain | N/A | N/A | 0.1 | 3.9 | 3800.0% |
| United Arab Emirates | N/A | N/A | N/A | 3.2 | 0% |
| Others | 16.1 | 12.3 | 3.3 | 15.8 | -0.6% |
| Total | 16.6 | 15.2 | 14.3 | 135 | 101.1% |
Top Export Markets for Urea from Turkey in 2022:
- Iran (40.6K tons)
- Syrian Arab Republic (28.8K tons)
- Bulgaria (24.2K tons)
- Ukraine (22.3K tons)
- Italy (15.5K tons)
- Germany (14.9K tons)
- Israel (8.9K tons)
- Croatia (8.9K tons)
- Romania (8.2K tons)
- Switzerland (6.1K tons)
- Spain (6.1K tons)
- United States (5.5K tons)
- United Arab Emirates (5.0K tons)
This report provides an in-depth analysis of the urea 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 4001 - Urea
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
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
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