Turkey: Salt Market 2024

Salt Market Size in Turkey

In 2022, after two years of growth, there was decline in the Turkish salt market, when its value decreased by -4.6% to $X. Overall, consumption recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when the market value increased by 6% against the previous year. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Salt Production in Turkey

In value terms, salt production declined modestly to $X in 2022 estimated in export price. In general, production showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 9%. Salt production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Salt Exports

Exports from Turkey

For the sixth year in a row, Turkey recorded growth in shipments abroad of salt and pure sodium chloride, which increased by 39% to X tons in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 120%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, salt exports surged to $X in 2022. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons), Ukraine (X tons) and Russia (X tons) were the main destinations of salt exports from Turkey, together accounting for 42% of total exports. Syrian Arab Republic, the UK, the United States, Italy, Georgia, Bulgaria, Cote d'Ivoire and Iraq lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +109.5%), while the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Romania ($X) and the UK ($X) were the largest markets for salt exported from Turkey worldwide, with a combined 45% share of total exports. Russia, the United States, Syrian Arab Republic, Bulgaria, Cote d'Ivoire, Georgia, Italy and Iraq lagged somewhat behind, together accounting for a further 33%.

In terms of the main countries of destination, Italy, with a CAGR of +77.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average salt export price amounted to $X per ton, rising by 8.9% against the previous year. Over the period under review, the export price, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 9%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Italy ($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 Iraq (+2.7%), while the prices for the other major destinations experienced a decline.

Salt Imports

Imports into Turkey

In 2022, the amount of salt and pure sodium chloride imported into Turkey reduced remarkably to X tons, with a decrease of -36.8% on the previous year. Overall, imports saw a sharp reduction. The growth pace was the most rapid in 2018 when imports increased by 86%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, salt imports reduced to $X in 2022. In general, imports showed a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 19%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Pakistan (X tons) and the United States (X tons) were the main suppliers of salt imports to Turkey, together accounting for 68% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +42.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Pakistan ($X) and Denmark ($X) constituted the largest salt suppliers to Turkey, together accounting for 52% of total imports. The United States, Iran, Austria, the Netherlands and Egypt lagged somewhat behind, together accounting for a further 24%.

The United States, with a CAGR of +50.5%, saw the highest growth rate of the value of imports, among 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 salt import price stood at $X per ton in 2022, growing by 50% against the previous year. Over the period under review, the import price posted a significant expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 162%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+33.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :