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Turkey - Refined Olive Oil - Market Analysis, Forecast, Size, Trends And Insights
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Turkey: Refined Olive Oil Market Overview 2021

Refined Olive Oil Market Size in Turkey

In 2019, the Turkish refined olive oil market was finally on the rise to reach $X after five years of decline. Overall, consumption showed moderate growth. The pace of growth appeared the most rapid in 2010 when the market value increased by X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Refined Olive Oil Production in Turkey

In value terms, refined olive oil production rose to $X in 2019 estimated in export prices. In general, the total production indicated a notable increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2012 when the production volume increased by X% y-o-y. Refined olive oil production peaked at $X in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.

Refined Olive Oil Exports

Exports from Turkey

After three years of growth, overseas shipments of refined olive oil decreased by -X% to X tonnes in 2019. In general, exports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at X tonnes in 2018, and then reduced notably in the following year.

In value terms, refined olive oil exports shrank remarkably to $X in 2019. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 when exports increased by X% y-o-y. Exports peaked at $X in 2018, and then contracted significantly in the following year.

Exports by Country

The U.S. (X tonnes) was the main destination for refined olive oil exports from Turkey, accounting for a X% share of total exports. Moreover, refined olive oil exports to the U.S. exceeded the volume sent to the second major destination, Italy (X tonnes), fourfold. Spain (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to the U.S. totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-X% per year) and Spain (+X% per year).

In value terms, the U.S. ($X) remains the key foreign market for refined olive oil exports from Turkey, comprising X% of total exports. The second position in the ranking was occupied by Italy ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-X% per year) and Spain (+X% per year).

Export Prices by Country

In 2019, the average refined olive oil export price amounted to $X per tonne, falling by -X% against the previous year. Over the period under review, the export price saw a noticeable descent. The growth pace was the most rapid in 2015 an increase of X% y-o-y. Over the period under review, average export prices hit record highs at $X per tonne in 2017; however, from 2018 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Iraq ($X per tonne), while the average price for exports to Italy ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Iraq, while the prices for the other major destinations experienced a decline.

Refined Olive Oil Imports

Imports into Turkey

In 2019, after four years of decline, there was significant growth in supplies from abroad of refined olive oil, when their volume increased by X% to X tonnes. In general, imports enjoyed a prominent expansion. Imports peaked at X tonnes in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

In value terms, refined olive oil imports soared to $X in 2019. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. As a result, imports reached the peak of $X. From 2015 to 2019, the growth imports remained at a lower figure.

Imports by Country

In 2019, Morocco (X tonnes) constituted the largest supplier of refined olive oil to Turkey, accounting for a X% share of total imports. Moreover, refined olive oil imports from Morocco exceeded the figures recorded by the second-largest supplier, Germany (X tonnes), fivefold. Kuwait (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Morocco totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Kuwait (+X% per year).

In value terms, Morocco ($X), Germany ($X) and Italy ($X) appeared to be the largest refined olive oil suppliers to Turkey, with a combined X% share of total imports.

Morocco (+X% per year) recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average refined olive oil import price amounted to $X per tonne, declining by -X% against the previous year. In general, the import price, however, showed a tangible expansion. The growth pace was the most rapid in 2008 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2009 to 2019, the growth in terms of the average import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per tonne), while the price for Greece ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Kuwait, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined olive oil in the world?
+
The countries with the highest volumes of refined olive oil consumption in 2019 were China (672K tonnes), the U.S. (356K tonnes) and India (263K tonnes), with a combined 28% share of global consumption. These countries were followed by Spain, Japan, Indonesia, Germany, Russia, Brazil, Pakistan, Bangladesh, France and Italy, which together accounted for a further 28%.
What are the largest producers of refined olive oil in the world?
+
The countries with the highest volumes of refined olive oil production in 2019 were China (664K tonnes), Spain (417K tonnes) and the U.S. (277K tonnes), with a combined 30% share of global production. These countries were followed by India, Japan, Indonesia, Germany, Russia, Pakistan, Brazil, Italy, Bangladesh and France, which together accounted for a further 29%.
What are the leading suppliers of refined olive oil to Turkey?
+
In value terms, the largest refined olive oil suppliers to Turkey were Morocco ($274K), Germany ($199K) and Italy ($87K), together comprising 83% of total imports.
What are the leading importers of refined olive oil from Turkey?
+
In value terms, the U.S. ($29M) remains the key foreign market for refined olive oil exports from Turkey, comprising 56% of total exports. The second position in the ranking was occupied by Italy ($6.4M), with a 12% share of total exports. It was followed by Spain, with a 5.7% share.
What is the average export price for refined olive oil in Turkey?
+
In 2019, the average refined olive oil export price amounted to $2,307 per tonne, waning by -33.4% against the previous year.
What is the average import price for refined olive oil in Turkey?
+
In 2019, the average refined olive oil import price amounted to $3,372 per tonne, reducing by -50.2% against the previous year.

Product coverage:
• Prodcom 10415310 - Refined olive oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined olive 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 2025.


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
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
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 PRODUCTS

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 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
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 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
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, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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