Turkey: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Turkey

In 2021, the Turkish sunflower oilcake market decreased by -0.3% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market attained the maximum level at $X in 2020, and then declined modestly in the following year.

Sunflower Oilcake Production in Turkey

In value terms, sunflower oilcake production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 54%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Sunflower Oilcake Exports

Exports from Turkey

In 2021, shipments abroad of sunflower oilcake was finally on the rise to reach X tons after two years of decline. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 2,084%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, sunflower oilcake exports surged to $X in 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 2,279%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Cyprus (X tons), the UK (X tons) and the United States (X tons) were the main destinations of sunflower oilcake exports from Turkey, with a combined 89% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +129.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunflower oilcake exported from Turkey were the UK ($X), the United States ($X) and Cyprus ($X), with a combined 91% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +137.7%, saw the highest rates of growth with regard to 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 2021, the average sunflower oilcake export price amounted to $X per ton, surging by 18% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the average export price increased by 27% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Syrian Arab Republic ($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 Cyprus (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sunflower Oilcake Imports

Imports into Turkey

In 2021, approx. X tons of sunflower oilcake were imported into Turkey; picking up by 6.8% against the year before. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +141.1% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of 67%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sunflower oilcake imports surged to $X in 2021. Overall, imports saw prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 52% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Russia (X tons), Ukraine (X tons) and Bulgaria (X tons) were the main suppliers of sunflower oilcake imports to Turkey, together comprising 93% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +44.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sunflower oilcake suppliers to Turkey were Russia ($X), Ukraine ($X) and Bulgaria ($X), with a combined 94% share of total imports.

Bulgaria, with a CAGR of +49.9%, recorded the highest rates of growth with regard to 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

In 2021, the average sunflower oilcake import price amounted to $X per ton, increasing by 34% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake import price increased by +71.5% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Bulgaria ($X per ton) and Moldova ($X per ton), while the price for Ukraine ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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