Eastern Europe: Sesame Oil Market 2024

Sesame Oil Market Size in Eastern Europe

In 2022, the East European sesame oil market increased by 3.6% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Sesame Oil Production in Eastern Europe

In value terms, sesame oil production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The growth pace was the most rapid in 2014 when the production volume increased by 170% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Sesame Oil Exports

Exports in Eastern Europe

In 2022, sesame oil exports in Eastern Europe stood at X tons, remaining stable against the previous year's figure. Overall, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 135%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, sesame oil exports reduced modestly to $X in 2022. In general, exports recorded buoyant growth. The growth pace was the most rapid in 2020 with an increase of 221% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Poland was the main exporting country with an export of about X tons, which amounted to 52% of total exports. It was distantly followed by the Czech Republic (X tons) and Russia (X tons), together creating a 37% share of total exports. The following exporters - Lithuania (X tons), Latvia (X tons) and Ukraine (X tons) - together made up 8.1% of total exports.

Exports from Poland increased at an average annual rate of +23.2% from 2012 to 2022. At the same time, Russia (+56.2%), the Czech Republic (+36.8%) and Latvia (+26.9%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +56.2% from 2012-2022. Lithuania experienced a relatively flat trend pattern. By contrast, Ukraine (-10.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Russia and the Czech Republic increased by +18, +16 and +15 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest sesame oil supplier in Eastern Europe, comprising 64% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with an 11% share of total exports. It was followed by Russia, with an 11% share.

In Poland, sesame oil exports expanded at an average annual rate of +35.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+26.7% per year) and Russia (+46.4% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, reducing by -5.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 42%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.6%), while the other leaders experienced mixed trends in the export price figures.

Sesame Oil Imports

Imports in Eastern Europe

In 2022, overseas purchases of sesame oil decreased by -7.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 27%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, sesame oil imports dropped modestly to $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 36%. Over the period under review, imports reached the maximum at $X in 2021, and then declined slightly in the following year.

Imports by Country

Russia was the main importer of sesame oil in Eastern Europe, with the volume of imports amounting to X tons, which was approx. 53% of total imports in 2022. Poland (X tons) ranks second in terms of the total imports with a 24% share, followed by the Czech Republic (7.9%). The following importers - Romania (X tons), Lithuania (X tons), Belarus (X tons) and Hungary (X tons) - together made up 9.7% of total imports.

Imports into Russia increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Belarus (+21.4%), the Czech Republic (+16.3%), Poland (+12.8%), Lithuania (+9.6%), Romania (+8.4%) and Hungary (+1.6%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +21.4% from 2012-2022. While the share of Poland (+7.6 p.p.), the Czech Republic (+3.9 p.p.) and Belarus (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hungary (-1.7 p.p.) and Russia (-12 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sesame oil importing markets in Eastern Europe were Russia ($X), Poland ($X) and the Czech Republic ($X), together comprising 78% of total imports. Lithuania, Romania, Belarus and Hungary lagged somewhat behind, together comprising a further 14%.

In terms of the main importing countries, Belarus, with a CAGR of +19.2%, recorded 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

The import price in Eastern Europe stood at $X per ton in 2022, rising by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2020 when the import price increased by 21% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lithuania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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