China: Sesame Oil Market 2024

Sesame Oil Market Size in China

The Chinese sesame oil market totaled $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Sesame Oil Production in China

In value terms, sesame oil production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 15%. Sesame oil production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Sesame Oil Exports

Exports from China

After two years of growth, overseas shipments of sesame oil decreased by -9% to X tons in 2022. Overall, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 53% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, sesame oil exports declined to $X in 2022. In general, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 20%. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X tons), Singapore (X tons) and Peru (X tons) were the main destinations of sesame oil exports from China, together comprising 33% of total exports. South Korea, Russia, Vietnam, Australia, Indonesia, Japan, the UK, the Netherlands, Malaysia and France lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +29.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Singapore ($X) and South Korea ($X) appeared to be the largest markets for sesame oil exported from China worldwide, with a combined 34% share of total exports. Australia, Vietnam, Indonesia, Russia, Peru, the UK, the Netherlands, Japan, France and Malaysia lagged somewhat behind, together accounting for a further 38%.

Peru, with a CAGR of +29.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sesame oil export price amounted to $X per ton, increasing by 3.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 17%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into China

In 2022, imports of sesame oil into China declined significantly to X tons, with a decrease of -56.4% on 2021. Over the period under review, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, sesame oil imports surged to $X in 2022. In general, imports continue to indicate a perceptible decline. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), India (X tons) and the United States (X tons) were the main suppliers of sesame oil imports to China, with a combined 87% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +77.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of sesame oil to China, comprising 60% of total imports. The second position in the ranking was taken by Japan ($X), with a 26% share of total imports. It was followed by India, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +122.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.5% per year) and India (-7.9% per year).

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2022, jumping by 245% against the previous year. In general, the import price showed a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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