Turkey: Salt Market Overview 2021

Salt Market Size in Turkey

The Turkish salt market soared to $X in 2020, rising by X% against the previous year. In general, consumption enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2020, consumption stood at a somewhat lower figure.

Salt Production in Turkey

In value terms, salt production soared to $X in 2020 estimated in export prices. In general, production showed a strong expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Salt Exports

Exports from Turkey

In 2020, after seven years of growth, there was significant decline in shipments abroad of salt and pure sodium chloride, when their volume decreased by -X% to X tonnes. Overall, exports, however, saw strong growth. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Exports peaked at X tonnes in 2019, and then declined significantly in the following year.

In value terms, salt exports declined dramatically to $X in 2020. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2010 with an increase of X% year-to-year. Exports peaked at $X in 2019, and then dropped significantly in the following year.

Exports by Country

The U.S. (X tonnes) was the main destination for salt exports from Turkey, accounting for a X% share of total exports. Moreover, salt exports to the U.S. exceeded the volume sent to the second major destination, Russia (X tonnes), threefold. Austria (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+X% per year) and Austria (+X% per year).

In value terms, the U.S. ($X), the UK ($X) and Russia ($X) were the largest markets for salt exported from Turkey worldwide, with a combined X% share of total exports. Iraq, Romania, Austria, Bulgaria, Italy, Serbia, Georgia and Ukraine lagged somewhat behind, together comprising a further X (+X% per year) recorded the highest growth rate of the value of exports, in terms of 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 2020, the average salt export price amounted to $X per tonne, increasing by X% against the previous year. In general, export price indicated modest growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, salt export price increased by +X% against 2017 indices. As a result, export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was the UK ($X per tonne), while the average price for exports to the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2020, 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 mixed trend patterns.

Salt Imports

Imports into Turkey

In 2020, imports of salt and pure sodium chloride into Turkey fell remarkably to X tonnes, shrinking by -X% against 2019 figures. Over the period under review, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Imports peaked at X tonnes in 2011; however, from 2012 to 2020, imports remained at a lower figure.

In value terms, salt imports expanded remarkably to $X in 2020. Overall, imports saw a noticeable descent. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. As a result, imports attained the peak of $X. From 2009 to 2020, the growth imports remained at a lower figure.

Imports by Country

Pakistan (X tonnes), Germany (X tonnes) and the Netherlands (X tonnes) were the main suppliers of salt imports to Turkey, together accounting for X% of total imports. These countries were followed by France, Poland, Denmark, Iran, the U.S. and Austria, which together accounted for a further X 2007 to 2020, the biggest increases were in Poland, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest salt suppliers to Turkey were Germany ($X), Pakistan ($X) and France ($X), with a combined X% share of total imports. These countries were followed by the Netherlands, Denmark, the U.S., Iran, Poland and Austria, which together accounted for a further X recorded the highest growth rate of 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

The average salt import price stood at $X per tonne in 2020, with an increase of X% against the previous year. In general, the import price posted a resilient increase. The growth pace was the most rapid in 2013 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs in 2020 and is expected to retain growth in years to come.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the Netherlands, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform