Turkey: Ghee Market 2024

Ghee Market Size in Turkey

The Turkish ghee market declined notably to $X in 2022, which is down by -95.7% against the previous year. Overall, consumption recorded a precipitous shrinkage. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Ghee Production in Turkey

In value terms, ghee production stood at less than $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern.

Ghee Exports

Exports from Turkey

Ghee exports from Turkey surged to X tons in 2022, jumping by 429% on 2021 figures. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 3,168%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, ghee exports soared to $X in 2022. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,932%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Egypt (X tons) was the main destination for ghee exports from Turkey, with a 49% share of total exports. Moreover, ghee exports to Egypt exceeded the volume sent to the second major destination, Lebanon (X tons), fourfold. The third position in this ranking was taken by Qatar (X tons), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to Egypt amounted to +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (0.0% per year) and Qatar (+66.2% per year).

In value terms, Egypt ($X) remains the key foreign market for ghee exports from Turkey, comprising 46% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 12% share of total exports. It was followed by Qatar, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to Egypt stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (0.0% per year) and Qatar (+94.2% per year).

Export Prices by Country

The average ghee export price stood at $X per ton in 2022, picking up by 13% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the average export price increased by 52% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Turkey

In 2022, imports of ghee into Turkey fell markedly to X tons, waning by -35.8% against the previous year. Over the period under review, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2015 when imports increased by 380% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, ghee imports fell significantly to $X in 2022. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 236% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of ghee to Turkey, with a 56% share of total imports. Moreover, ghee imports from Germany exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), threefold. Kenya (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+25.5% per year) and Kenya (+1,610,600.0% per year).

In value terms, Germany ($X) constituted the largest supplier of ghee to Turkey, comprising 72% of total imports. The second position in the ranking was held by Ukraine ($X), with an 11% share of total imports. It was followed by Kenya, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+10.0% per year) and Kenya (+1,091,280.0% per year).

Import Prices by Country

The average ghee import price stood at $X per ton in 2022, falling by -5.2% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +72.7% against 2015 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 51%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for New Zealand ($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 (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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