Turkey: Soya Bean Market 2024

Soya Bean Market Size in Turkey

The Turkish soya bean market surged to $X in 2022, rising by X% against the previous year. In general, consumption posted buoyant growth. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Soya Bean Production in Turkey

In value terms, soya bean production reached $X in 2022 estimated in export price. Overall, production showed a pronounced descent. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

In 2022, the average soya bean yield in Turkey rose to X tons per ha, increasing by X% on the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. The soya bean yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The soya bean harvested area in Turkey contracted to X ha in 2022, falling by X% on the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. The soya bean harvested area peaked at X ha in 2021, and then declined in the following year.

Soya Bean Exports

Exports from Turkey

In 2022, the amount of soya beans exported from Turkey soared to X tons, jumping by X% against 2021. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 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, soya bean exports surged to $X in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for soya bean exports from Turkey, with a X% share of total exports. Moreover, soya bean exports to the United States exceeded the volume sent to the second major destination, Georgia (X tons), sevenfold. The third position in this ranking was taken by Cyprus (X tons), with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for soya beans exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Georgia ($X), with a X% share of total exports. It was followed by Cyprus, 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: Georgia (X% per year) and Cyprus (X% per year).

Export Prices by Country

In 2022, the average soya bean export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

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

Soya Bean Imports

Imports into Turkey

In 2022, approx. X tons of soya beans were imported into Turkey; growing by X% compared with the year before. Overall, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, soya bean imports skyrocketed to $X in 2022. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest soya bean supplier to Turkey, with a X% share of total imports. Moreover, soya bean imports from Brazil exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), threefold. The United States (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 Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (X% per year) and the United States (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of soya beans to Turkey, comprising X% of total imports. The second position in the ranking was taken by Ukraine ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (X% per year) and the United States (X% per year).

Import Prices by Country

The average soya bean import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated a slight 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, soya bean import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Argentina ($X per ton) and Brazil ($X per ton), while the price for the United States ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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