Turkey: Crude Coconut Oil Market Overview 2021

Crude Coconut Oil Market Size in Turkey

The Turkish crude coconut oil market reduced rapidly to $X in 2019, with a decrease of -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a precipitous decline. The growth pace was the most rapid in 2010 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X. From 2011 to 2019, the growth of the market remained at a somewhat lower figure.

Crude Coconut Oil Exports

Exports from Turkey

After seven years of decline, shipments abroad of crude coconut (copra) oil increased by X% to X kg in 2019. Over the period under review, exports, however, recorded a perceptible descent. The pace of growth appeared the most rapid in 2010 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at X tonnes in 2011; however, from 2012 to 2019, exports remained at a lower figure.

In value terms, crude coconut oil exports reached $X in 2019. Overall, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Exports peaked at $X in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

Exports by Country

Qatar (X kg) was the main destination for crude coconut oil exports from Turkey, with a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Qatar totaled +X%.

In value terms, Qatar ($X) also remains the key foreign market for crude coconut oil exports from Turkey.

From 2007 to 2019, the average annual growth rate of value to Qatar totaled +X%.

Export Prices by Country

In 2019, the average crude coconut oil export price amounted to $X per tonne, with a decrease of -X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 when the average export price increased by X% y-o-y. Over the period under review, average export prices attained the maximum at $X per tonne in 2018, and then fell significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2007 to 2019, the rate of growth in terms of prices for Qatar amounted to +X% per year.

Crude Coconut Oil Imports

Imports into Turkey

In 2019, approx. X tonnes of crude coconut (copra) oil were imported into Turkey; declining by -X% against the previous year. Over the period under review, imports showed a significant decline. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, crude coconut oil imports reduced sharply to $X in 2019. Overall, imports showed a sharp reduction. The growth pace was the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2008; however, from 2009 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Malaysia (X tonnes) was the main supplier of crude coconut oil to Turkey, accounting for a X% share of total imports. Moreover, crude coconut oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tonnes), more than tenfold. Germany (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Malaysia totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-X% per year) and Germany (+X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of crude coconut oil to Turkey, comprising X% of total imports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Malaysia amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-X% per year) and Germany (+X% per year).

Import Prices by Country

In 2019, the average crude coconut oil import price amounted to $X per tonne, growing by X% against the previous year. In general, the import price posted a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the Philippines ($X per tonne), while the price for Malaysia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the Philippines, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for coconut (copra) oil in the world?

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The countries with the highest volumes of coconut oil consumption in 2019 were the U.S. (449K tonnes), the Philippines (342K tonnes) and Indonesia (329K tonnes), with a combined 35% share of global consumption. India, Germany, the Netherlands, Viet Nam, China, Mexico, Bangladesh, Italy and South Korea lagged somewhat behind, together accounting for a further 40%.

What are the largest producers of coconut (copra) oil in the world?

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The countries with the highest volumes of coconut oil production in 2019 were the Philippines (1.3M tonnes), Indonesia (874K tonnes) and India (314K tonnes), with a combined 77% share of global production. Viet Nam, Mexico, Bangladesh and Sri Lanka lagged somewhat behind, together comprising a further 13%.

What are the leading suppliers of coconut (copra) oil to Turkey?

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In value terms, Malaysia ($14M) constituted the largest supplier of coconut oil to Turkey, comprising 86% of total imports. The second position in the ranking was occupied by Indonesia ($947K), with a 5.8% share of total imports.

What are the leading importers of coconut (copra) oil from Turkey?

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In value terms, the largest markets for coconut oil exported from Turkey were Iraq ($7.3K), Cyprus ($4K) and Azerbaijan ($1.7K), with a combined 80% share of total exports. These countries were followed by the United Arab Emirates, Germany and the U.S., which together accounted for a further 12%.

What is the average export price for coconut (copra) oil in Turkey?

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The average coconut oil export price stood at $4,834 per tonne in 2019, falling by -16.5% against the previous year.

What is the average import price for coconut (copra) oil in Turkey?

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In 2019, the average coconut oil import price amounted to $1,010 per tonne, dropping by -29.9% against the previous year.