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Turkey - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Turkey - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Sep 25, 2023

Price of Turkey's Maize Oil Drops by 14%, Reaching $1,417 per Ton Following Two Consecutive Months of Decline

Turkey Maize Oil Export Price in July 2023

In July 2023, the maize oil price stood at $1,417 per ton (FOB, Turkey), which is down by -13.8% against the previous month. Over the period under review, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in December 2022 when the average export price increased by 6.8% month-to-month. Over the period under review, the average export prices reached the maximum at $2,460 per ton in July 2022; however, from August 2022 to July 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was Israel ($1,862 per ton), while the average price for exports to Jordan ($1,222 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (-2.4%), while the prices for the other major destinations experienced a decline.

Turkey Maize Oil Export Prices By Country (USD Per Ton)
COUNTRYExport Price of Maize Oil in Turkey (USD per ton)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
Israel2,7432,7502,1372,4981,9331,9621,9521,9401,7981,7651,7761,6461,862
Azerbaijan2,5961,9812,4472,2042,1312,1652,1711,5562,1222,1002,1021,9291,682
Libya2,4072,3152,2561,7641,4001,8681,8971,9371,8741,7581,7851,6751,577
United Arab Emirates2,7291,9142,0831,9411,9211,7451,8021,7291,7541,5811,5691,5471,333
JordanN/AN/AN/A1,803N/A2,0831,8091,7051,418N/A1,612N/A1,222
EgyptN/AN/AN/A1,512N/AN/AN/A1,592N/AN/AN/A1,250N/A
Average2,4602,1692,2271,8881,7041,8191,9331,7181,8271,7391,7751,6451,417

Turkey Maize Oil Export Prices by Type

Average prices varied noticeably for the major types of exported product. In July 2023, the product with the highest price was refined maize (corn) oil ($1,546 per ton), while the average price for exports of crude maize (corn) oil totaled $1,249 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for the following types: refined maize oil (-3.8%).

Turkey Maize Oil Exports

In July 2023, shipments abroad of maize oil increased by 54% to 9.6K tons, rising for the third month in a row after two months of decline. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in December 2022 when exports increased by 293% m-o-m. Over the period under review, the exports reached the maximum in July 2023.

In value terms, maize oil exports skyrocketed to $14M (IndexBox estimates) in July 2023. Overall, exports showed a noticeable expansion. The growth pace was the most rapid in December 2022 when exports increased by 320% month-to-month. As a result, the exports attained the peak of $16M. From January 2023 to July 2023, the growth of the exports remained at a lower figure.

Turkey Maize Oil Exports by Type

Refined maize (corn) oil (5.5K tons) and crude maize (corn) oil (4.2K tons) were the main products of maize oil exports from Turkey.

From July 2022 to July 2023, the biggest increases were in crude maize oil (with a CAGR of +4.0%).

In value terms, the most traded types of maize oil in Turkey were refined maize (corn) oil ($8.4M) and crude maize (corn) oil ($5.2M).

Among the main product categories, crude maize oil, with a CAGR of -0.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Turkey Maize Oil Exports by Country

Libya (3.4K tons), Georgia (2.8K tons) and the United Arab Emirates (1.2K tons) were the main destinations of maize oil exports from Turkey, together accounting for 77% of total exports.

From July 2022 to July 2023, the biggest increases were in Georgia (with a CAGR of +49.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize oil exported from Turkey were Libya ($5.4M), Georgia ($3.6M) and the United Arab Emirates ($1.6M), with a combined 77% share of total exports.

Georgia, with a CAGR of +41.8%, 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.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the maize 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:

  • FCL 60 - Oil of Maize

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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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