Turkey: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Turkey

The Turkish fish meals and pellet market contracted remarkably to $X in 2021, reducing by -45.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a deep slump. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports from Turkey

In 2021, approx. X kg of flours, meals and pellets of fish were exported from Turkey; with an increase of 285% against 2020 figures. Overall, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 400%. Over the period under review, the exports hit record highs at X kg in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, fish meals and pellet exports skyrocketed to $X in 2021. In general, exports, however, recorded a precipitous decline. The most prominent rate of growth was recorded in 2018 when exports increased by 560% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Kuwait (X kg) was the main destination for fish meals and pellet exports from Turkey, accounting for a 88% share of total exports. Moreover, fish meals and pellet exports to Kuwait exceeded the volume sent to the second major destination, Marshall Islands (X kg), more than tenfold.

From 2016 to 2021, the average annual rate of growth in terms of volume to Kuwait stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Marshall Islands (0.0% per year) and Panama (+200.0% per year).

In value terms, Kuwait ($X) remains the key foreign market for flours, meals and pellets of fish exports from Turkey, comprising 61% of total exports. The second position in the ranking was taken by Marshall Islands ($X), with a 25% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of value to Kuwait totaled -14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Marshall Islands (0.0% per year) and Panama (+129.9% per year).

Export Prices by Country

In 2021, the average fish meals and pellet export price amounted to $X per ton, with a decrease of -9.9% against the previous year. Over the period under review, the export price saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 32% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2016 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (-11.2%).

Imports of Flours, Meals And Pellets Of Fish

Imports into Turkey

Fish meals and pellet imports into Turkey dropped dramatically to X tons in 2021, which is down by -33.8% on the previous year's figure. Over the period under review, imports showed a perceptible slump. The growth pace was the most rapid in 2019 with an increase of 692% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, fish meals and pellet imports fell remarkably to $X in 2021. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 599%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Georgia (X tons) constituted the largest supplier of fish meals and pellet to Turkey, accounting for a 59% share of total imports. Moreover, fish meals and pellet imports from Georgia exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was held by Norway (X kg), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Georgia amounted to -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-24.6% per year) and Norway (+19.1% per year).

In value terms, the largest fish meals and pellet suppliers to Turkey were Georgia ($X), China ($X) and Norway ($X), with a combined 38% share of total imports.

China, with a CAGR of -5.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average fish meals and pellet import price stood at $X per ton in 2021, declining by -21.5% against the previous year. Overall, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 27%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (-7.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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