Asia: Sesame Oil Market 2024

Sesame Oil Market Size in Asia

In 2021, after three years of growth, there was decline in the Asian sesame oil market, when its value decreased by -0.8% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Sesame Oil Production in Asia

In value terms, sesame oil production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 7.8% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Sesame Oil Exports

Exports in Asia

Sesame oil exports totaled X tons in 2021, picking up by 7% on the previous year. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 13%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, sesame oil exports amounted to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +49.6% against 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of 18% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

The biggest shipments were from Japan (X tons), India (X tons), China (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and Bangladesh (X tons), together reaching 83% of total export. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Bangladesh (with a CAGR of +28.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the largest sesame oil supplier in Asia, comprising 33% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports. It was followed by China, with a 14% share.

In Japan, sesame oil exports expanded at an average annual rate of +7.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+14.7% per year) and China (+8.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2019 when the export price increased by 8.8%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.9%), while the other leaders experienced more modest paces of growth.

Sesame Oil Imports

Imports in Asia

For the third year in a row, Asia recorded growth in supplies from abroad of sesame oil, which increased by 0.1% to X tons in 2021. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 29% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, sesame oil imports totaled $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.2% against 2014 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of sesame oil imports in 2021 were Taiwan (Chinese) (X tons), Singapore (X tons), Japan (X tons) and Hong Kong SAR (X tons), together amounting to 49% of total import. The Philippines (X tons) held the next position in the ranking, followed by Saudi Arabia (X tons), Indonesia (X tons), the United Arab Emirates (X tons) and Vietnam (X tons). All these countries together held near 27% share of total imports. The following importers - Malaysia (X tons), China (X tons), Thailand (X tons) and South Korea (X tons) - each accounted for a 12% share of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +19.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame oil importing markets in Asia were Singapore ($X), Indonesia ($X) and Japan ($X), together accounting for 37% of total imports.

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

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2018 when the import price increased by 14% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

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

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