Australia: Sesame Oil Market 2024

Sesame Oil Market Size in Australia

In 2021, after two years of growth, there was significant decline in the Australian sesame oil market, when its value decreased by -17.3% to $X. Overall, consumption recorded a buoyant increase. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Sesame Oil Production in Australia

In value terms, sesame oil production declined remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 266% against the previous year. As a result, production reached the peak level of $X, and then fell significantly in the following year.

Sesame Oil Exports

Exports from Australia

In 2021, sesame oil exports from Australia reduced rapidly to X tons, waning by -80.8% compared with the previous year. Overall, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 760%. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, sesame oil exports declined significantly to $X in 2021. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 1,094% against the previous year. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

New Zealand (X tons) was the main destination for sesame oil exports from Australia, accounting for a 52% share of total exports. Moreover, sesame oil exports to New Zealand exceeded the volume sent to the second major destination, Nauru (X tons), threefold. Vanuatu (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand amounted to -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nauru (-2.0% per year) and Vanuatu (+73.3% per year).

In value terms, New Zealand ($X) remains the key foreign market for sesame oil exports from Australia, comprising 53% of total exports. The second position in the ranking was held by Nauru ($X), with an 11% share of total exports. It was followed by Vanuatu, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand stood at -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nauru (-11.7% per year) and Vanuatu (+40.8% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, waning by -62.7% against the previous year. Overall, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 86%. The export price peaked at $X per ton in 2020, and then fell sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Vanuatu ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Australia

In 2021, overseas purchases of sesame oil increased by 1.7% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 41% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, sesame oil imports stood at $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 +91.5% against 2012 indices. The growth pace was the most rapid in 2014 with an increase of 20% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Singapore (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of sesame oil imports to Australia, together comprising 59% of total imports. India, Malaysia, Japan, South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the largest sesame oil suppliers to Australia, together comprising 65% of total imports. Malaysia, India, Japan, South Korea and Hong Kong SAR lagged somewhat behind, together accounting for a further 30%.

India, with a CAGR of +20.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2021, remaining stable against the previous year. In general, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sesame oil import price decreased by -0.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 38%. The import price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :