Turkey: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Turkey

The Turkish refined rapeseed oil market contracted remarkably to $X in 2022, waning by X% against the previous year. Over the period under review, consumption continues to indicate a abrupt decline. Refined rapeseed oil consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in Turkey

In value terms, refined rapeseed oil production contracted notably to $X in 2022 estimated in export price. Over the period under review, production, however, showed measured growth. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Refined rapeseed oil production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Refined Rapeseed Oil Exports

Exports from Turkey

For the third year in a row, Turkey recorded growth in shipments abroad of refined rape, colza or mustard oil, which increased by X% to X tons in 2022. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, refined rapeseed oil exports soared to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for refined rapeseed oil exports from Turkey, accounting for a X% share of total exports. Moreover, refined rapeseed oil exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Israel (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

In value terms, the United States ($X) remains the key foreign market for refined rape, colza or mustard oil exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the average refined rapeseed oil export price amounted to $X per ton, with an increase of X% against the previous year. In general, export price indicated a mild increase 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, refined rapeseed oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Kuwait ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and Israel ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Turkey

In 2022, overseas purchases of refined rape, colza or mustard oil increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, refined rapeseed oil imports soared to $X in 2022. Overall, imports recorded a tangible increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of refined rapeseed oil to Turkey, with a X% share of total imports. Moreover, refined rapeseed oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. Italy (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 the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of refined rape, colza or mustard oil to Turkey, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with an X% share of total imports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average refined rapeseed oil import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a moderate 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, refined rapeseed oil import price increased by X% against 2015 indices. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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