Price for Cereal Groats and Meal; of Wheat in Turkey - 2024

Contents:

1. Price for Cereal Groats and Meal; of Wheat in Turkey (FOB) - 2024
2. Price for Cereal Groats and Meal; of Wheat in Turkey (CIF) - 2022
3. Exports of Cereal Groats and Meal; of Wheat in Turkey
4. Imports of Cereal Groats and Meal; of Wheat in Turkey

Price for Cereal Groats and Meal; of Wheat in Turkey (FOB) - 2024

The average export price for cereal groats and meal; of wheats stood at $557 per ton in September 2023, rising by 4% against the previous month. In general, the export price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in June 2023 when the average export price increased by 5.5% m-o-m. Over the period under review, the average export prices attained the maximum at $658 per ton in January 2023; however, from February 2023 to September 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In September 2023, the highest price was recorded for prices to Syrian Arab Republic ($631 per ton) and Iraq ($605 per ton), while the average price for exports to Tanzania ($496 per ton) and Mali ($518 per ton) were amongst the lowest.

From January 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Wheat in Turkey (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of wheats amounted to $769 per ton, shrinking by -25% against the previous year. In general, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 65% against the previous year. The import price peaked at $2,295 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($5,000 per ton), while the price for Egypt ($718 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+27.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Cereal Groats and Meal; of Wheat in Turkey

In 2022, the amount of cereal groats and meal; of wheats exported from Turkey soared to 122K tons, with an increase of 21% on the previous year. In general, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +14.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of cereal groats and meal; of wheats surged to $72M in 2022. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cereal Groats and Meal; of Wheat from Turkey in 2022:

1. Angola (31.3K tons)
2. Tanzania (26.6K tons)
3. Cote d'Ivoire (18.8K tons)
4. Egypt (13.7K tons)
5. Senegal (6.5K tons)
6. Saudi Arabia (3.1K tons)
7. Iraq (2.3K tons)
8. Mali (2.1K tons)
9. Libya (2.0K tons)
10. Ethiopia (2.0K tons)
11. Tunisia (2.0K tons)
12. Syrian Arab Republic (0.8K tons)
13. Haiti (0.4K tons)

Imports of Cereal Groats and Meal; of Wheat in Turkey

After two years of decline, overseas purchases of cereal groats and meal; of wheats increased by 1,942% to 545 tons in 2022. Overall, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of cereal groats and meal; of wheats skyrocketed to $419K in 2022. Over the period under review, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cereal Groats and Meal; of Wheat to Turkey in 2022:

1. Egypt (490.0 tons)
2. Italy (29.1 tons)
3. Russia (23.5 tons)

Source: IndexBox Market Intelligence Platform