Report Turkey - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 21, 2023

Turkey - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Crude Soybean Oil Market 2023

Crude Soybean Oil Market Size in Turkey

The Turkish crude soybean oil market plummeted to $X in 2021, shrinking by -55% against the previous year. Over the period under review, consumption showed a abrupt decline. Crude soybean oil consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Crude Soybean Oil Production in Turkey

In value terms, crude soybean oil production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 45%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Crude Soybean Oil Exports

Exports from Turkey

In 2021, exports of crude soybean oil from Turkey soared to X tons, picking up by 44% on the previous year's figure. In general, exports showed significant growth. The growth pace was the most rapid in 2016 when exports increased by 378%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, crude soybean oil exports soared to $X in 2021. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 340% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Algeria (X tons), India (X tons) and Iran (X tons) were the main destinations of crude soybean oil exports from Turkey, with a combined 68% share of total exports. Iraq, China, Tunisia, Egypt, Lebanon and Bangladesh lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were in Iraq (with a CAGR of +104.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X), India ($X) and Iran ($X) were the largest markets for crude soybean oil exported from Turkey worldwide, together comprising 69% of total exports. Iraq, China, Tunisia, Egypt, Lebanon and Bangladesh lagged somewhat behind, together accounting for a further 27%.

Egypt, with a CAGR of +84.0%, saw the highest growth rate of the value of exports, in terms of 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

The average crude soybean oil export price stood at $X per ton in 2021, with an increase of 58% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to India ($X per ton) and Lebanon ($X per ton), while the average price for exports to Egypt ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+84.9%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports into Turkey

In 2021, purchases abroad of crude soybean oil decreased by -12.5% to X tons, falling for the eighth consecutive year after two years of growth. Over the period under review, imports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 40% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, crude soybean oil imports expanded slightly to $X in 2021. Overall, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2013 when imports increased by 36% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest crude soybean oil supplier to Turkey, with a 85% share of total imports. Moreover, crude soybean oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Russia (X tons), sixfold. Ukraine (X tons) ranked third in terms of total imports with a 0.5% share.

From 2012 to 2021, the average annual growth rate of volume from Argentina amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (0.0% per year) and Ukraine (-38.3% per year).

In value terms, Argentina ($X) constituted the largest supplier of crude soybean oil to Turkey, comprising 69% of total imports. The second position in the ranking was held by Russia ($X), with a 28% share of total imports. It was followed by Ukraine, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value from Argentina stood at -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (0.0% per year) and Ukraine (-34.3% per year).

Import Prices by Country

In 2021, the average crude soybean oil import price amounted to $X per ton, picking up by 17% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+14.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for crude soybean oil in the world?
+
The countries with the highest volumes of consumption in 2021 were China, the United States and Brazil, together accounting for 62% of global consumption.
What are the largest producers of crude soybean oil in the world?
+
The countries with the highest volumes of production in 2021 were China, Brazil and the United States, together accounting for 64% of global production.
What are the leading suppliers of crude soybean oil to Turkey?
+
In value terms, Argentina constituted the largest supplier of crude soybean oil to Turkey, comprising 69% of total imports. The second position in the ranking was held by Russia, with a 28% share of total imports. It was followed by Ukraine, with a 0.8% share.
What are the leading importers of crude soybean oil from Turkey?
+
In value terms, Algeria, India and Iran appeared to be the largest markets for crude soybean oil exported from Turkey worldwide, together accounting for 69% of total exports. Iraq, China, Tunisia, Egypt, Lebanon and Bangladesh lagged somewhat behind, together accounting for a further 27%.
What is the average export price for crude soybean oil in Turkey?
+
In 2021, the average crude soybean oil export price amounted to $1,223 per ton, with an increase of 58% against the previous year.
What is the average import price for crude soybean oil in Turkey?
+
The average crude soybean oil import price stood at $1,237 per ton in 2021, rising by 17% against the previous year.

This report provides an in-depth analysis of the crude soybean oil 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 237 - Oil of Soybeans
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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