Turkey: Crude Coconut Oil Market Overview 2021

Crude Coconut Oil Market Size in Turkey

In 2020, the Turkish crude coconut oil market increased by X% to $X for the first time since 2013, thus ending a six-year declining trend. Over the period under review, consumption, however, faced a dramatic slump. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. As a result, consumption reached the peak level of $X. from 2011 to 2020, the growth of the market failed to regain the momentum.

Crude Coconut Oil Exports

Exports from Turkey

In 2020, overseas shipments of crude coconut (copra) oil increased by X% to X tonnes, rising for the second year in a row after three years of decline. In general, exports continue to indicate strong growth. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude coconut oil exports soared to $X in 2020. Overall, exports continue to indicate a significant increase. As a result, exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tonnes), Iraq (X kg) and Cyprus (X kg) were the main destinations of crude coconut oil exports from Turkey, with a combined X% share of total exports.

From 2007 to 2020, the biggest increases were in Cyprus (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Cyprus ($X) and Iraq ($X) were the largest markets for crude coconut oil exported from Turkey worldwide, together accounting for X% of total exports.

Cyprus (+X% per year) recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average crude coconut oil export price amounted to $X per tonne, picking up by X% against the previous year. In general, the export price enjoyed a buoyant increase. As a result, export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Cyprus ($X per tonne), while the average price for exports to Iraq ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Turkey

In 2020, the amount of crude coconut (copra) oil imported into Turkey skyrocketed to X tonnes, picking up by X% against 2019 figures. Over the period under review, imports, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, crude coconut oil imports surged to $X in 2020. In general, imports, however, faced a deep slump. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2008; however, from 2009 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Sri Lanka (X tonnes) constituted the largest crude coconut oil supplier to Turkey, with a X% share of total imports. Moreover, crude coconut oil imports from Sri Lanka exceeded the figures recorded by the second-largest supplier, the Philippines (X tonnes), fourfold.

From 2007 to 2020, the average annual growth rate of volume from Sri Lanka amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-X% per year) and Viet Nam (-X% per year).

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

From 2007 to 2020, the average annual rate of growth in terms of value from Sri Lanka totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-X% per year) and Viet Nam (-X% per year).

Import Prices by Country

The average crude coconut oil import price stood at $X per tonne in 2020, surging by X% against the previous year. In general, the import price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% year-to-year. The import price peaked in 2020 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2020, the country with the highest price was Sri Lanka ($X per tonne), while the price for the Philippines ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Viet Nam, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform