Turkey - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingTurkey Experiences 21% Increase in Vegetable Oils Import, Reaching $72 Million in 2024
Turkey Vegetable Oils Imports
In 2024, overseas purchases of vegetable fats and oils increased by 16% to 44K tons, rising for the third year in a row after two years of decline. Over the period under review, total imports indicated temperate growth from 2014 to 2024: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +74.5% against 2021 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 60% against the previous year. Over the period under review, imports reached the peak figure in 2024 and are expected to retain growth in the near future.
In value terms, vegetable oils imports soared to $72M (IndexBox estimates) in 2024. In general, imports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2017 with an increase of 81% against the previous year. Over the period under review, imports hit record highs at $74M in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.
| COUNTRY | Import Value of Vegetable Oils in Turkey (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| Malaysia | 10.8 | 14.8 | 11.0 | 30.7 | 26.0 | 24.8 | 23.7 | 19.8 | 28.2 | 29.9 | 32.7 |
| Indonesia | 30.4 | 17.9 | 12.4 | 15.9 | 8.6 | 8.3 | 8.9 | 16.7 | 33.2 | 17.7 | 24.3 |
| India | 2.9 | 3.1 | 2.7 | 3.4 | 3.5 | 3.8 | 3.2 | 4.1 | 4.8 | 4.1 | 4.7 |
| France | 0.4 | 0.3 | 0.3 | 0.5 | 0.6 | 0.4 | 0.5 | 0.7 | 3.3 | 2.9 | 3.2 |
| Germany | 2.0 | 1.4 | 1.8 | 2.2 | 2.4 | 2.1 | 1.8 | 2.0 | 2.3 | 2.3 | 2.5 |
| Others | 4.4 | 2.5 | 2.1 | 2.1 | 1.8 | 1.7 | 1.8 | 1.7 | 2.1 | 2.7 | 5.0 |
| Total | 50.9 | 40.0 | 30.3 | 54.9 | 42.9 | 41.2 | 39.9 | 44.9 | 73.9 | 59.6 | 72.3 |
Imports by Country
Malaysia (24K tons), Indonesia (15K tons) and India (2.3K tons) were the main suppliers of vegetable oils imports to Turkey, with a combined 93% share of total imports. France and Germany lagged somewhat behind, together accounting for a further 2.9%.
From 2014 to 2024, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Malaysia ($33M), Indonesia ($24M) and India ($4.7M) appeared to be the largest vegetable oils suppliers to Turkey, with a combined 85% share of total imports. France and Germany lagged somewhat behind, together comprising a further 7.8%.
Among the main suppliers, France, with a CAGR of +23.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2024, the vegetable oils price amounted to $1,633 per ton (CIF, Turkey), rising by 4.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 51% against the previous year. The import price peaked at $2,332 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($3,749 per ton), while the price for Malaysia ($1,383 per ton) was amongst the lowest.
From 2014 to 2024, the most notable rate of growth in terms of prices was attained by India (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.
This report provides an in-depth analysis of the vegetable oils 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 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
