Report Update Nov 1, 2024

Turkey - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Groundnut Oil Market 2024

Groundnut Oil Market Size in Turkey

In 2021, the Turkish groundnut oil market increased by 2.2% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, showed a moderate increase. Groundnut oil consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Groundnut Oil Production in Turkey

In value terms, groundnut oil production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a tangible increase. The pace of growth was the most pronounced in 2018 with an increase of 119%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Groundnut Oil Exports

Exports from Turkey

In 2021, exports of groundnut oil from Turkey rose remarkably to X tons, increasing by 13% compared with the previous year's figure. In general, exports, however, showed a mild curtailment. The growth pace was the most rapid in 2017 when exports increased by 743% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, groundnut oil exports surged to $X in 2021. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 681% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for groundnut oil exports from Turkey, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar amounted to -1.3%.

In value terms, Qatar ($X) also remains the key foreign market for groundnut oil exports from Turkey.

From 2012 to 2021, the average annual growth rate of value to Qatar stood at -7.5%.

Export Prices by Country

In 2021, the average groundnut oil export price amounted to $X per ton, increasing by 2.2% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 120% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to -6.3% per year.

Groundnut Oil Imports

Imports into Turkey

In 2021, approx. X tons of groundnut oil were imported into Turkey; surging by 81% on 2020 figures. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil imports skyrocketed to $X in 2021. In general, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of groundnut oil to Turkey, with a 82% share of total imports. Moreover, groundnut oil imports from Belgium exceeded the figures recorded by the second-largest supplier, Italy (X kg), more than tenfold. France (X kg) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (0.0% per year) and France (+40.8% per year).

In value terms, Belgium ($X) constituted the largest supplier of groundnut oil to Turkey, comprising 87% of total imports. The second position in the ranking was taken by Italy ($X), with a 3.9% share of total imports. It was followed by France, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (0.0% per year) and France (+10.0% per year).

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, surging by 19% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for groundnut oil in the world?

China remains the largest groundnut oil consuming country worldwide, comprising approx. 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. The third position in this ranking was occupied by Sudan, with a 4.5% share.

What are the largest producers of groundnut oil in the world?

China constituted the country with the largest volume of groundnut oil production, accounting for 41% of total volume. Moreover, groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. The third position in this ranking was occupied by India, with a 6.9% share.

What are the leading suppliers of groundnut oil to Turkey?

In value terms, Belgium constituted the largest supplier of groundnut oil to Turkey, comprising 89% of total imports. The second position in the ranking was occupied by the United States, with a 9.7% share of total imports.

What are the leading importers of groundnut oil from Turkey?

In value terms, Kuwait remains the key foreign market for groundnut oil exports from Turkey.

What is the average export price for groundnut oil in Turkey?

The average groundnut oil export price stood at $723 per ton in 2020, shrinking by -32.6% against the previous year.

What is the average import price for groundnut oil in Turkey?

The average groundnut oil import price stood at $6,463 per ton in 2020, growing by 6.4% against the previous year.

This report provides an in-depth analysis of the groundnut oil market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 244 - Oil of Groundnuts

Country coverage:

Turkey

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Turkey
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023