Turkey: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Turkey

The Turkish market for frozen scallops, including queen scallop surged to $X in 2021, rising by 313% 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). Over the period under review, consumption saw slight growth. Frozen scallops, including queen scallop consumption peaked in 2021 and is expected to retain growth in the immediate term.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Turkey

In 2021, after four years of decline, there was significant growth in overseas shipments of frozen scallops, including queen scallop, when their volume increased by 4,855% to X tons. Over the period under review, exports, however, recorded a sharp descent. 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 scallops, including queen scallop exports skyrocketed to $X in 2021. In general, exports, however, recorded a abrupt contraction. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X kg) was the main destination for frozen scallops, including queen scallop exports from Turkey, accounting for a 68% share of total exports. Moreover, frozen scallops, including queen scallop exports to Russia exceeded the volume sent to the second major destination, Malta (X kg), fivefold. Liberia (X kg) ranked third in terms of total exports with an 11% share.

From 2015 to 2021, the average annual rate of growth in terms of volume to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malta (0.0% per year) and Liberia (+34.4% per year).

In value terms, Russia ($X) emerged as the key foreign market for frozen scallops, including queen scallop exports from Turkey, comprising 70% of total exports. The second position in the ranking was taken by Malta ($X), with a 13% share of total exports. It was followed by Liberia, with an 8.4% share.

From 2015 to 2021, the average annual rate of growth in terms of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malta (0.0% per year) and Liberia (+64.8% per year).

Export Prices by Country

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, growing by 125% against the previous year. Overall, the export price continues to indicate a measured increase. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Sierra Leone ($X per ton) and Russia ($X per ton), while the average price for exports to Liberia ($X per ton) and Luxembourg ($X per ton) were amongst the lowest.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Liberia (+22.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Turkey

In 2021, the amount of frozen scallops, including queen scallop imported into Turkey surged to X tons, rising by 427% on 2020. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, frozen scallops, including queen scallop imports skyrocketed to $X in 2021. Overall, imports saw a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of 498% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest frozen scallops, including queen scallop supplier to Turkey, accounting for a 53% share of total imports. Moreover, frozen scallops, including queen scallop imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.1% per year) and the United States (-14.8% per year).

In value terms, China ($X) constituted the largest supplier of frozen scallops, including queen scallop to Turkey, comprising 41% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.3% per year) and Japan (+3.3% per year).

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2021, which is down by -26.2% against the previous year. Over the period under review, the import price, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2019 an increase of 72%. The import price peaked at $X per ton in 2020, and then fell remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+45.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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