Report Update Apr 1, 2024

Turkey - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Turkey

The Turkish refined groundnut oil market amounted to $X in 2022, approximately equating the previous year. Overall, consumption, however, continues to indicate prominent growth. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Groundnut Oil Production in Turkey

In value terms, refined groundnut oil production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, posted resilient growth. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Refined Groundnut Oil Exports

Exports from Turkey

In 2022, approx. X tons of refined groundnut oil were exported from Turkey; with an increase of X% compared with the previous year. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, refined groundnut oil exports surged to $X in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Belgium (X tons) was the main destination for refined groundnut oil exports from Turkey, accounting for a X% share of total exports. Moreover, refined groundnut oil exports to Belgium exceeded the volume sent to the second major destination, France (X tons), fourfold.

From 2014 to 2022, the average annual rate of growth in terms of volume to Belgium was relatively modest.

From 2014 to 2022, the average annual growth rate of value to Belgium was relatively modest.

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped notably in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Belgium amounted to $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (X%).

Refined Groundnut Oil Imports

Imports into Turkey

In 2022, imports of refined groundnut oil into Turkey soared to X tons, rising by X% on the previous year. Over the period under review, imports posted prominent growth. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, refined groundnut oil imports soared to $X in 2022. Overall, imports recorded a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. 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, Belgium (X tons) constituted the largest supplier of refined groundnut oil to Turkey, with a X% share of total imports. Moreover, refined groundnut oil imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at X%.

In value terms, Belgium ($X) constituted the largest supplier of refined groundnut oil to Turkey, comprising X% of total imports. The second position in the ranking was held by France ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to X%.

Import Prices by Country

The average refined groundnut oil import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced modestly in the following year.

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 Belgium ($X per ton), while the price for France totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined groundnut oil in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, with a combined 31% share of global consumption. Japan, Germany, Pakistan, Nigeria, Indonesia, Bangladesh, Brazil, the UK, France and Russia lagged somewhat behind, together accounting for a further 25%.

What are the largest producers of refined groundnut oil in the world?

The countries with the highest volumes of production in 2022 were China, the United States and India, with a combined 32% share of global production. Japan, Pakistan, Germany, Brazil, Nigeria, Indonesia, Bangladesh, France, the UK and Russia lagged somewhat behind, together comprising a further 25%.

What are the leading suppliers of refined groundnut oil to Turkey?

In value terms, Belgium constituted the largest supplier of refined groundnut oil to Turkey, comprising 88% of total imports. The second position in the ranking was taken by France, with an 11% share of total imports.

What is the average export price for refined groundnut oil in Turkey?

In 2022, the average refined groundnut oil export price amounted to $2,778 per ton, falling by -42.2% against the previous year.

What is the average import price for refined groundnut oil in Turkey?

In 2022, the average refined groundnut oil import price amounted to $7,517 per ton, reducing by -2.2% against the previous year.

This report provides an in-depth analysis of the refined groundnut 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:

Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023