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Turkey - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Turkey - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends And Insights

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Jan 7, 2023

Turkey's Refined Maize Oil Price Stands at $2,261 per Ton

Turkey Refined Maize Oil Export Price in September 2022

In September 2022, the refined maize oil price amounted to $2,261 per ton, therefore (FOB, Turkey), remained relatively stable against the previous month. Over the last eight months, it increased at an average monthly rate of +3.1%. The pace of growth was the most pronounced in June 2022 when the average export price increased by 17% month-to-month. The export price peaked at $2,460 per ton in July 2022; however, from August 2022 to September 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In September 2022, the countries with the highest prices were Azerbaijan ($2,447 per ton) and Libya ($2,256 per ton), while the average price for exports to Saudi Arabia ($2,066 per ton) and the United Arab Emirates ($2,083 per ton) were amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Palestine (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Refined Maize Oil Exports

In September 2022, overseas shipments of refined maize (corn) oil decreased by -12.2% to 4.2K tons for the first time since June 2022, thus ending a two-month rising trend. In general, exports continue to indicate a noticeable setback. The growth pace was the most rapid in May 2022 when exports increased by 236% against the previous month. Over the period under review, the exports attained the maximum at 9.8K tons in February 2022; however, from March 2022 to September 2022, the exports remained at a lower figure.

In value terms, refined maize oil exports contracted to $9.5M (IndexBox estimates) in September 2022. Overall, exports continue to indicate a slight setback. The most prominent rate of growth was recorded in May 2022 when exports increased by 247% month-to-month. The exports peaked at 18K tons in February 2022; however, from March 2022 to September 2022, the exports stood at a somewhat lower figure.

Turkey Refined Maize Oil Exports by Country

Libya (3.5K tons) was the main destination for refined maize oil exports from Turkey, with a 84% share of total exports. Moreover, refined maize oil exports to Libya exceeded the volume sent to the second major destination, Azerbaijan (231 tons), more than tenfold. The third position in this ranking was held by Israel (163 tons), with a 3.9% share.

From January 2022 to September 2022, the average monthly rate of growth in terms of volume to Libya totaled -2.6%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Azerbaijan (+9.2% per month) and Israel (-18.1% per month).

In value terms, Libya ($8M) remains the key foreign market for refined maize oil exports from Turkey, comprising 84% of total exports. The second position in the ranking was taken by Azerbaijan ($564K), with a 5.9% share of total exports. It was followed by Israel, with a 3.7% share.

From January 2022 to September 2022, the average monthly rate of growth in terms of value to Libya was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Azerbaijan (+12.5% per month) and Israel (-16.1% per month).

Source: IndexBox Market Intelligence Platform

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

  • Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)

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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