Sharp Drop in Turkey's July 2023 Imports of Lentils to $53M

Sharp Drop in Turkey

Turkey Lentil Imports

In July 2023, the import of lentils into Turkey witnessed a significant reduction, plummeting to 79,000 tons, down by 36.1% compared to the previous month. However, overall imports maintained a relatively stable trend. The most notable growth was observed in November 2022, with a staggering 451% month-on-month increase.

In terms of value, the import of lentils experienced a substantial decline, reaching $53 million (according to IndexBox estimates) in July 2023. Throughout the period under review, imports showed a noticeable downward trend, with the highest growth rate occurring in November 2022, soaring by 450% compared to the previous month.Turkey Lentil Imports By Country (Million USD)

Imports by Country

In July 2023, Canada emerged as the largest lentil supplier to Turkey, contributing 67,000 tons and capturing an 85% share of the total imports. This figure was more than ten times higher than the second-largest supplier, Kazakhstan, which accounted for 2,200 tons.

From July 2022 to July 2023, the average monthly growth rate of lentil imports from Canada stood at -1.2%.

In terms of value, Canada dominated as the top supplier, with $45 million worth of lentils, representing 85% of the total imports. Kazakhstan held the second position with a 2.5% share and $1.3 million in value.

From July 2022 to July 2023, the average monthly rate of growth in terms of value from Canada was -3.3%.

Import Prices by Country

In July 2023, the import price of lentils (CIF, Turkey) stood at $674 per ton, experiencing a decline of 2.6% compared to the previous month. Import prices displayed a significant contraction during the review period. The most rapid growth was observed in January 2023, with a 3.1% increase compared to the previous month. The peak import price was recorded in July 2022, reaching $871 per ton, but from August 2022 to July 2023, prices remained slightly lower.

Average prices varied considerably among the major supplying countries. Canada had the highest price in July 2023, at $677 per ton, while Kazakhstan had one of the lowest prices at $607 per ton.

From July 2022 to July 2023, Canada experienced a notable rate of price growth at -2.1%, while the prices for other major suppliers observed a decline.



Source: IndexBox Market Intelligence Platform

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