Vegetable Oil Exports Reach $503.8 Million in 5 Months

Turkey exported USD 503.8 million in vegetable oils during January-May period. According to a statement from the Aegean Exporters Associations, Turkey, which exported USD 380.6 million in vegetable oils during the January-May period of the previous year, achieved a 32% increase in revenue in the same period this year, bringing the figure to USD 503.8 million. In terms of volume, vegetable oil exports, which stood at 406,475 tonnes during the January-May period of the previous year, reached 368,124 tonnes in the same period this year. In the statement, Mustafa Terci, Chairman of the Aegean Grains, Legumes, Oilseeds and Products Exporters Association, noted that revenue increased despite the decline in volume. Terci, stating that the association contributed USD 120 million to Turkey's vegetable oil exports, said: "The leading countries in Turkey's exports were Iraq with USD 84 million, Syria with USD 51 million in vegetable oil demand, and Libya with USD 50 million. The markets to which we exported the most from the Aegean Region were: Libya with USD 38 million, Yemen with USD 34.7 million, and Tunisia with USD 13.7 million. We expect our vegetable oil exports, which were USD 981 million in 2020, to reach USD 1 billion 250 million by the end of 2021."           Source: AA