Report Update Nov 1, 2024

Turkey - Palm Kernel and Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in Turkey

In 2022, the Turkish palm kernel oil market increased by 6.2% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Palm kernel oil consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Palm Kernel Oil Exports

Exports from Turkey

In 2022, overseas shipments of palm kernel and babassu oil increased by 116% to X tons, rising for the fourth year in a row after three years of decline. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 156,210% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, palm kernel oil exports soared to $X in 2022. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2019 with an increase of 58,898% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Georgia (X tons) and Greece (X tons) were the main destinations of palm kernel oil exports from Turkey, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +106.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palm kernel oil exported from Turkey were Georgia ($X), Russia ($X) and Greece ($X), with a combined 99% share of total exports.

Georgia, with a CAGR of +179.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average palm kernel oil export price stood at $X per ton in 2022, surging by 3.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 143%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Greece ($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 Georgia (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into Turkey

In 2022, supplies from abroad of palm kernel and babassu oil decreased by -6.6% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, palm kernel oil imports skyrocketed to $X in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +162.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 76%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of palm kernel oil to Turkey, accounting for a 89% share of total imports. Moreover, palm kernel oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +5.6%.

In value terms, Malaysia ($X) constituted the largest supplier of palm kernel and babassu oil to Turkey, comprising 87% of total imports. The second position in the ranking was held by Indonesia ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +7.9%.

Import Prices by Country

The average palm kernel oil import price stood at $X per ton in 2022, growing by 36% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, palm kernel oil import price increased by +102.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 47%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Malaysia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.6%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palm kernel and babassu oil in the world?

The countries with the highest volumes of in 2021 were Indonesia, Malaysia and China, with a combined 63% share of global consumption. Thailand, the United States, Germany, Brazil, the Netherlands and Nigeria lagged somewhat behind, together comprising a further 20%.

What are the largest producers of palm kernel and babassu oil in the world?

The country with the largest volume of palm kernel oil production was Indonesia, comprising approx. 54% of total volume. Moreover, palm kernel oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with an 8.1% share.

What are the leading suppliers of palm kernel and babassu oil to Turkey?

In value terms, Malaysia constituted the largest supplier of palm kernel oil to Turkey, comprising 93% of total imports. The second position in the ranking was occupied by Indonesia, with a 7% share of total imports.

What are the leading importers of palm kernel and babassu oil from Turkey?

In value terms, Russia remains the key foreign market for palm kernel oil exports from Turkey, comprising 63% of total exports. The second position in the ranking was occupied by Georgia, with a 31% share of total exports.

What is the average export price for palm kernel and babassu oil in Turkey?

The average palm kernel oil export price stood at $1,411 per ton in 2021, falling by -20.3% against the previous year.

What is the average import price for palm kernel and babassu oil in Turkey?

The average palm kernel oil import price stood at $1,228 per ton in 2021, increasing by 48% against the previous year.

This report provides an in-depth analysis of the palm kernel 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 258 - Oil of Palm Kernel

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:

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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:

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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