Turkey: Crude Coconut Oil Market 2022

Crude Coconut Oil Market Size in Turkey

In 2021, the Turkish crude coconut oil market increased by X% to $X, rising for the second consecutive year after six years of decline. Over the period under review, consumption, however, saw a deep setback. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Crude Coconut Oil Exports

Exports from Turkey

In 2021, approx. X tons of crude coconut (copra) oil were exported from Turkey; increasing by X% on the previous year's figure. Overall, exports enjoyed significant growth. As a result, the 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 2021. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Iran (X tons), the Netherlands (X tons) and Bangladesh (X kg) were the main destinations of crude coconut oil exports from Turkey, together accounting for X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) emerged as the key foreign market for crude coconut oil exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Bangladesh (+X% per year).

Export Prices by Country

In 2021, the average crude coconut oil export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price continues to indicate significant growth. As a result, the export price reached 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 Bangladesh ($X per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Turkey

In 2021, the amount of crude coconut (copra) oil imported into Turkey soared to X tons, growing by X% against the year before. In general, imports, however, faced a precipitous setback. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, crude coconut oil imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a deep reduction. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sri Lanka (X tons) 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 tons), threefold. Vietnam (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sri Lanka totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+X% per year) and Vietnam (-X% per year).

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

From 2012 to 2021, the average annual growth rate of value from Sri Lanka stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+X% per year) and Vietnam (+X% per year).

Import Prices by Country

The average crude coconut oil import price stood at $X per ton in 2021, increasing by X% against the previous year. Over the period under review, the import price enjoyed a strong increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sri Lanka ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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