Turkey: Lard Market 2022

Lard Market Size in Turkey

The Turkish lard market reduced sharply to $X in 2021, 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). Over the period under review, consumption continues to indicate a abrupt downturn. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Lard Exports

Exports from Turkey

In 2021, lard exports from Turkey was estimated at X kg, increasing by X% against 2020 figures. Over the period under review, exports posted a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports reached the peak of X kg. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, lard exports reduced dramatically to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

South Africa (X kg), Saudi Arabia (X kg) and Croatia (X kg) were the main destinations of lard exports from Turkey, together comprising X% of total exports. These countries were followed by Kazakhstan, Saint Vincent and the Grenadines, Liberia and Panama, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kazakhstan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lard exported from Turkey were Croatia ($X), South Africa ($X) and Saint Vincent and the Grenadines ($X), together accounting for X% of total exports. These countries were followed by Saudi Arabia, Liberia, Panama and Kazakhstan, which together accounted for a further X, with a CAGR of X%, 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 2021, the average lard export price amounted to $X per ton, with a decrease of -X% against the previous year. Over the period under review, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Liberia ($X per ton), while the average price for exports to Saudi Arabia ($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 South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lard Imports

Imports into Turkey

In 2021, overseas purchases of lard decreased by -X% to X kg, falling for the third year in a row after seven years of growth. In general, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X kg in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, lard imports rose markedly to $X in 2021. Overall, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X kg) was the main lard supplier to Turkey, with a approx. X% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +X%.

In value terms, Germany ($X) constituted the largest supplier of lard to Turkey.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +X%.

Import Prices by Country

The average lard import price stood at $X per ton in 2021, surging by X% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lard import price increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for Germany.

From 2012 to 2021, the rate of growth in terms of prices for Germany amounted to +X% per year.

Source: IndexBox Market Intelligence Platform

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