Turkey: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Turkey

The Turkish frozen cuttlefishes market dropped markedly to $X in 2021, which is down by -68% against the previous year. In general, consumption saw a significant decrease. Frozen cuttlefishes consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Frozen Cuttlefishes Production in Turkey

In value terms, frozen cuttlefishes production dropped markedly to $X in 2021 estimated in export price. Overall, production recorded a dramatic downturn. The pace of growth appeared the most rapid in 2018 with a decrease of -34% against the previous year. Frozen cuttlefishes production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Frozen Cuttlefishes Exports

Exports from Turkey

In 2021, overseas shipments of frozen cuttlefishes increased by 4.1% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2013 with an increase of 133%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports rose to $X in 2021. Over the period under review, exports, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 98%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Greece (X tons), Spain (X tons) and Italy (X tons) were the main destinations of frozen cuttlefishes exports from Turkey, with a combined 83% share of total exports. Malta, Marshall Islands, Liberia and Cyprus lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Malta (with a CAGR of +21.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Spain ($X) and Italy ($X) were the largest markets for frozen cuttlefishes exported from Turkey worldwide, with a combined 84% share of total exports. These countries were followed by Malta, Marshall Islands, Cyprus and Liberia, which together accounted for a further 12%.

Among the main countries of destination, Malta, with a CAGR of +22.0%, recorded 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

In 2021, the average frozen cuttlefishes export price amounted to $X per ton, declining by -1.7% against the previous year. Overall, the export price continues to indicate a mild setback. The pace of growth was the most pronounced in 2018 when the average export price increased by 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Liberia (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Turkey

Frozen cuttlefishes imports into Turkey reduced notably to X tons in 2021, with a decrease of -51.3% compared with the year before. In general, imports saw a significant decline. The pace of growth appeared the most rapid in 2019 with an increase of 42%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes imports dropped dramatically to $X in 2021. Over the period under review, imports saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 28%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and the Netherlands (X tons) were the main suppliers of frozen cuttlefishes imports to Turkey, with a combined 96% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +29.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest frozen cuttlefishes suppliers to Turkey were China ($X), India ($X) and the Netherlands ($X), with a combined 95% share of total imports.

The Netherlands, with a CAGR of +32.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average frozen cuttlefishes import price stood at $X per ton in 2021, growing by 11% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Belgium ($X per ton) and Vietnam ($X per ton), while the price for India ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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