Colombia: Sesame Seed Market 2024

Sesame Seed Market Size in Colombia

The Colombian sesame seed market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.9% against 2019 indices. Sesame seed consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sesame Seed Production in Colombia

In value terms, sesame seed production dropped to $X in 2022 estimated in export price. In general, production posted a resilient expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 84%. Sesame seed production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average sesame seed yield in Colombia declined to X kg per ha, waning by -6.6% against the previous year's figure. Over the period under review, the yield recorded a deep contraction. The growth pace was the most rapid in 2016 with an increase of 104% against the previous year. The sesame seed yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of sesame seed in Colombia soared to X ha, growing by 18% against the previous year's figure. Overall, the harvested area showed a resilient increase. The growth pace was the most rapid in 2014 when the harvested area increased by 101% against the previous year. Over the period under review, the harvested area dedicated to sesame seed production attained the maximum at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Sesame Seed Exports

Exports from Colombia

In 2022, after two years of growth, there was decline in shipments abroad of sesame seed, when their volume decreased by -1.3% to X tons. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 160%. The exports peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, sesame seed exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2020 when exports increased by 169% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for sesame seed exports from Colombia, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +154.8%.

In value terms, the Netherlands ($X) emerged as the key foreign market for sesame seed exports from Colombia.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +158.3%.

Export Prices by Country

In 2022, the average sesame seed export price amounted to $X per ton, jumping by 25% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to +6.0% per year.

Sesame Seed Imports

Imports into Colombia

Sesame seed imports into Colombia skyrocketed to X tons in 2022, rising by 32% on the previous year. In general, imports, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2014 with an increase of 54% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, sesame seed imports surged to $X in 2022. Overall, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -33.5% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 76%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Guatemala (X tons), Venezuela (X tons) and Mexico (X tons) were the main suppliers of sesame seed imports to Colombia, together accounting for 93% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +38.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame seed suppliers to Colombia were Guatemala ($X), Venezuela ($X) and the United States ($X), together comprising 91% of total imports. Mexico, India and Bolivia lagged somewhat behind, together accounting for a further 7.4%.

Mexico, with a CAGR of +30.9%, recorded the highest rates of growth with regard to 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 seed import price stood at $X per ton in 2022, approximately equating the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sesame seed import price decreased by -9.2% against 2019 indices. The pace of growth appeared the most rapid in 2015 an increase of 62%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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