Soybean oilcake market Turkey

Earlier Report Observations

Between 2018 and 2023, the Turkish soybean oilcake market experienced significant volatility, with volume peaking at nearly 2.0 million tons in 2022. The primary driver of growth was the continuous expansion of the domestic feed industry, which increased demand for soybean products and led to rising soybean imports, as consistently noted in market observations.

The market's dynamics were also shaped by Turkey's Biosecurity Law, a regulatory measure requiring approximately 90% of domestically produced soybean oil to be exported. This policy influenced crushing volumes and the availability of oilcake for the local market, contributing to the notable fluctuations, including a sharp contraction in 2021.

Despite the annual variations, the overall market volume grew from 1.7 million tons in 2018 to 1.9 million tons in 2023. The feed sector's robust demand, with expectations of using around 1.3 million tons of soybean, provided underlying support for the market's elevated level throughout the period.

Production soybean oilcake Turkey

In kind, 2017-2020, K t

Between 2017 and 2020, Turkey ranked as the 20th largest producer of soybean oilcake globally.

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2020, Turkey produced 1 391 K t of soybean oilcake, marking a significant increase of 36.5% compared to 2019. Over the period from 2017 to 2020, production grew by 64.1%, which translates to an annualized rate of 17.9%. The largest decline occurred in 2019, at 15.5%, while the largest increase was recorded in 2018, at 42.2%.

Annual dynamics of production Turkey in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the output of soybean oilcake in Turkey was valued at 531.1 M $ US, up by 34.6% from the previous year. From 2017 to 2020, production increased by 61%, with a compound annual growth rate (CAGR) of 17.2%. The maximum value was reached in 2018 at 547.9 M $ US. The largest decline took place in 2019, at 28.0%, while the largest increase was in 2018, at 66.1%.

Annual dynamics of production Turkey in value, 2017-2020, M $ US

Exports soybean oilcake to Turkey

Exports in kind, K t

In 2020, soybean oilcake exports from Turkey totaled 519 K t, a slight decrease of 1.7% compared to 2019. Between 2017 and 2020, exports rose by 19.9%, with a CAGR of 6.2%. The minimum value was recorded in 2018 at 426 K t, while the maximum was in 2019 at 528 K t. The largest increase occurred in 2019, at 23.9%.

Annual dynamics of product's exports to Turkey in kind, 2017-2020, K t

From 2017 to 2020, Iraq remained the primary destination for soybean oilcake exports from Turkey, accounting for 70.4% of total exports in kind, with other markets playing a much smaller role.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports to Turkey in kind, 2017-2020

Exports in value, M $ US

After two years of growth, soybean oilcake exports from Turkey declined. In 2020, exports amounted to 198.0 M $ US, showing a moderate drop of 3.1% from 2019. Between 2017 and 2020, exports increased by 17.7%, equating to an annualized rate of 5.6%. The maximum value was recorded in 2019 at 204.3 M $ US, and the largest increase was in 2018, at 15.0%.

Annual dynamics of product's exports to Turkey in value, 2017-2020, M $ US

From 2017 to 2020, the main buyers of soybean oilcake from Turkey were Iraq, with 68.7% of exports in value terms, Syria at 11.1%, and the United States at 8.2%. Together, these three countries accounted for 88.1% of total exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports to Turkey in value, 2017-2020

Imports soybean oilcake in Turkey

Imports in kind, K t

In 2020, Turkey's soybean oilcake imports were recorded at 1 073 K t, showing a modest decline of 8.9% compared to 2019. Between 2017 and 2020, imports decreased by 12.7%, with an annualized rate of 4.4%. The minimum value was in 2018 at 915 K t. The largest decline occurred in 2018, at 25.5%, while the largest increase was in 2019, at 28.6%.

Annual dynamics of product's imports in Turkey in kind, 2017-2020, K t

From 2017 to 2020, Argentina remained the dominant source for soybean oilcake imports in kind, holding an 82.8% share of total flows, with the remainder distributed across other markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports in Turkey in kind, 2017-2020

Imports in value, M $ US

In 2020, soybean oilcake imports to Turkey amounted to 417.5 M $ US, representing a measured decrease of 3.3% year-over-year. Between 2017 and 2020, imports fell by 7.5%, with an annualized rate of 2.6%. The minimum value was recorded in 2018 at 397.5 M $ US. The largest decline was in 2018, at 11.9%, while the largest increase was in 2019, at 8.6%.

Annual dynamics of product's imports in Turkey in value, 2017-2020, M $ US

From 2017 to 2020, the geographical pattern of imports in value terms was characterized by a strong dominance of Argentina, which accounted for 82.5% of total flows, while other partners held relatively minor shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports in Turkey in value, 2017-2020