Turkey: Butter Market 2024

Butter Market Size in Turkey

In 2022, the Turkish butter market decreased by -0.1% to $X, falling for the second consecutive year after four years of growth. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Butter Production in Turkey

In value terms, butter production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild shrinkage. The growth pace was the most rapid in 2019 with an increase of 76% against the previous year. Butter production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Butter Exports

Exports from Turkey

In 2022, approx. X tons of butter were exported from Turkey; increasing by 290% on the previous year's figure. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,205%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, butter exports surged to $X in 2022. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2015 when exports increased by 709%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Egypt (X tons), the Netherlands (X tons) and Morocco (X tons) were the main destinations of butter exports from Turkey, together accounting for 58% of total exports. Russia, Israel, Serbia, Azerbaijan, the United Arab Emirates, Tunisia, Oman, Cyprus and Iraq lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of +925,863.0%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), the Netherlands ($X) and Morocco ($X) were the largest markets for butter exported from Turkey worldwide, with a combined 56% share of total exports. Russia, Israel, Serbia, Azerbaijan, the United Arab Emirates, Tunisia, Oman, Cyprus and Iraq lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Tunisia, with a CAGR of +667,965.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average butter export price stood at $X per ton in 2022, increasing by 7.5% against the previous year. Overall, the export price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 20%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Iraq ($X per ton) and Cyprus ($X per ton), while the average price for exports to Oman ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Turkey

In 2022, purchases abroad of butter decreased by -32.3% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a dramatic contraction. The pace of growth was the most pronounced in 2019 when imports increased by 57%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, butter imports totaled $X in 2022. In general, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 43%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of butter to Turkey, accounting for a 57% share of total imports. Moreover, butter imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Ireland (X tons), fivefold. Pakistan (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at -13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (-19.0% per year) and Pakistan (0.0% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of butter to Turkey, comprising 62% of total imports. The second position in the ranking was taken by Ireland ($X), with an 11% share of total imports. It was followed by Poland, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands stood at -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (-15.9% per year) and Poland (-8.2% per year).

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, jumping by 49% against the previous year. Overall, the import price posted resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :