ASEAN: Sesame Oil Market 2024

Sesame Oil Market Size in ASEAN

In 2021, the ASEAN sesame oil market was finally on the rise to reach $X after five years of decline. Over the period under review, consumption, however, showed a pronounced reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sesame Oil Production in ASEAN

In value terms, sesame oil production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2015 with an increase of 47% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Sesame Oil Exports

Exports in ASEAN

In 2021, approx. X tons of sesame oil were exported in ASEAN; dropping by -2.5% compared with the previous year. The total export volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 31% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, sesame oil exports reached $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +39.0% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of 27%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Singapore represented the major exporter of sesame oil in ASEAN, with the volume of exports finishing at X tons, which was approx. 48% of total exports in 2021. Malaysia (X tons) took the second position in the ranking, followed by Vietnam (X tons) and Thailand (X tons). All these countries together took near 50% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to sesame oil exports from Singapore stood at +3.3%. At the same time, Thailand (+7.3%) and Malaysia (+3.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +7.3% from 2012-2021. Vietnam experienced a relatively flat trend pattern. Singapore (+2.9 p.p.), Thailand (+2 p.p.) and Malaysia (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -5.2% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest sesame oil supplier in ASEAN, comprising 56% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total exports. It was followed by Vietnam, with a 15% share.

In Singapore, sesame oil exports increased at an average annual rate of +7.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+6.0% per year) and Vietnam (+3.2% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, growing by 3.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2013 when the export price increased by 25%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.6%), while the other leaders experienced more modest paces of growth.

Sesame Oil Imports

Imports in ASEAN

In 2021, imports of sesame oil in ASEAN amounted to X tons, picking up by 7.7% on the year before. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.4% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 23%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, sesame oil imports expanded markedly to $X in 2021. Overall, imports recorded a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 31% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Singapore represented the key importer of sesame oil in ASEAN, with the volume of imports resulting at X tons, which was near 37% of total imports in 2021. The Philippines (X tons) ranks second in terms of the total imports with a 17% share, followed by Indonesia (14%), Vietnam (13%), Malaysia (8%) and Thailand (7.8%). Brunei Darussalam (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to sesame oil imports into Singapore stood at +7.7%. At the same time, Vietnam (+19.7%), Thailand (+13.9%), the Philippines (+10.9%), Brunei Darussalam (+9.6%) and Malaysia (+4.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +19.7% from 2012-2021. By contrast, Indonesia (-1.1%) illustrated a downward trend over the same period. Vietnam (+7.9 p.p.), the Philippines (+4.4 p.p.), Thailand (+3.3 p.p.) and Singapore (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Indonesia saw its share reduced by -2% and -15.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, together comprising 71% of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +19.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, which is down by -1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.6%. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+20.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform