Turkey: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Turkey

The Turkish margarine and shortening market stood at $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, showed a perceptible decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Margarine And Shortening Production in Turkey

In value terms, margarine and shortening production reached $X in 2022 estimated in export price. In general, production showed a pronounced setback. The pace of growth appeared the most rapid in 2017 with an increase of X%. Margarine and shortening production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports from Turkey

In 2022, approx. X tons of margarine and shortening were exported from Turkey; falling by X% against the previous year's figure. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. In general, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Iraq (X tons) was the main destination for margarine and shortening exports from Turkey, accounting for a X% share of total exports. Moreover, margarine and shortening exports to Iraq exceeded the volume sent to the second major destination, Syrian Arab Republic (X tons), twofold. Romania (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (X% per year) and Romania (X% per year).

In value terms, Iraq ($X) remains the key foreign market for margarine and shortening exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Syrian Arab Republic ($X), with an X% share of total exports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (X% per year) and Romania (X% per year).

Export Prices by Country

The average margarine and shortening export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Iran ($X per ton) and Turkmenistan ($X per ton), while the average price for exports to Georgia ($X per ton) and Lebanon ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkmenistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Turkey

In 2022, overseas purchases of margarine and shortening were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports soared to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of margarine and shortening to Turkey, accounting for a X% share of total imports. Moreover, margarine and shortening imports from Indonesia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Sweden (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Sweden (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of margarine and shortening to Turkey, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Sweden, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Sweden (X% per year).

Import Prices by Country

In 2022, the average margarine and shortening import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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