Turkey: Market for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters 2024

Market Size for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Turkey

The Turkish market for oleic, linoleic or linolenic acids, their salts and esters expanded to $X in 2021, picking up by 3.9% against the previous year. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.3% against 2016 indices. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Production of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Turkey

In value terms, oleic, linoleic or linolenic acids production contracted modestly to $X in 2021 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.4% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank slightly in the following year.

Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Exports from Turkey

After two years of growth, shipments abroad of oleic, linoleic or linolenic acids, their salts and esters decreased by -60.1% to X tons in 2021. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,042%. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell notably in the following year.

In value terms, oleic, linoleic or linolenic acids exports shrank markedly to $X in 2021. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 771%. The exports peaked at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Spain (X tons) was the main destination for oleic, linoleic or linolenic acids exports from Turkey, accounting for a 95% share of total exports. It was followed by Uzbekistan (X tons), with a 1.9% share of total exports. The third position in this ranking was taken by Iran (X kg), with a 0.2% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+43.1% per year) and Iran (-23.8% per year).

In value terms, Spain ($X) remains the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from Turkey, comprising 84% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 6.4% share of total exports. It was followed by Iran, with a 0.5% share.

From 2012 to 2021, the average annual growth rate of value to Spain totaled +27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+41.4% per year) and Iran (-30.0% per year).

Export Prices by Country

The average export price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, growing by 23% against the previous year. In general, the export price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 62%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Spain ($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 Spain (+25.7%), while the prices for the other major destinations experienced a decline.

Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Imports into Turkey

In 2021, approx. X tons of oleic, linoleic or linolenic acids, their salts and esters were imported into Turkey; jumping by 72% against 2020 figures. In general, imports saw a relatively flat trend pattern. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a mild shrinkage. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Iran (X tons) constituted the largest supplier of oleic, linoleic or linolenic acids to Turkey, accounting for a 43% share of total imports. Moreover, oleic, linoleic or linolenic acids imports from Iran exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. India (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Iran stood at +390.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-14.6% per year) and India (+15.2% per year).

In value terms, Iran ($X), Italy ($X) and India ($X) constituted the largest oleic, linoleic or linolenic acids suppliers to Turkey, with a combined 59% share of total imports.

Iran, with a CAGR of +276.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, shrinking by -4.6% against the previous year. In general, the import price recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Iran ($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 (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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