ANKARA (Commodity Online): Appreciation of palm oil in Turkey is seen increasing due to growing population and rising exports of halal foods.
Yurdagul, chairman of Turkey’s Kitchen Products and Margarine
Industrialists Association was quoted by Dow Jones Newswires that the
as compared to animal fat, palm oil with less fat-saturation would
drive people to switch to palm oil.
Turkey currently buys
500,000-600,000 tons of refined palm oil a year from Malaysia and
Indonesia. As it seeks to gain a bigger share of the $2.1 trillion
global halal foods market, palm oil imports could rise to 1 million
tons in the next ten years, Yurdagul said.
oil currently accounts for about 38% of Turkey’s annual edible oils
consumption of 1.6 million tons and that share may rise as domestic
oilseeds output continues to lag behind domestic demand, he said.