GCC: Sesame Oil Market 2024

Sesame Oil Market Size in GCC

The GCC sesame oil market skyrocketed to $X in 2021, with an increase of 20% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Sesame Oil Production in GCC

In value terms, sesame oil production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate noticeable growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 205%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Sesame Oil Exports

Exports in GCC

In 2021, approx. X tons of sesame oil were exported in GCC; increasing by 29% compared with the previous year's figure. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 88%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, sesame oil exports skyrocketed to $X in 2021. In general, exports enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2017 with an increase of 64% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X tons, which was near 83% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons) and Oman (X tons), together making up a 17% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to sesame oil exports from the United Arab Emirates stood at +10.4%. At the same time, Saudi Arabia (+26.3%) and Oman (+9.4%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +26.3% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia increased by +6.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest sesame oil supplier in GCC, comprising 79% of total exports. The second position in the ranking was held by Oman ($X), with a 12% share of total exports.

In the United Arab Emirates, sesame oil exports increased at an average annual rate of +2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Oman (+9.0% per year) and Saudi Arabia (+12.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, with an increase of 1.8% against the previous year. In general, the export price, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of 22% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (-0.4%), while the other leaders experienced a decline in the export price figures.

Sesame Oil Imports

Imports in GCC

In 2021, after two years of growth, there was decline in supplies from abroad of sesame oil, when their volume decreased by -2.8% to X tons. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% 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 +68.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 62% against the previous year. The volume of import peaked at X tons in 2020, and then reduced slightly in the following year.

In value terms, sesame oil imports declined to $X in 2021. Overall, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 66%. The level of import peaked at $X in 2020, and then fell in the following year.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together achieving 80% of total imports. Oman (X tons) held a 7.3% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (5.5%). Kuwait (X tons) and Bahrain (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame oil importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined 83% share of total imports.

Qatar, with a CAGR of +21.1%, recorded the highest rates of growth with regard to 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

In 2021, the import price in GCC amounted to $X per ton, which is down by -3.1% against the previous year. Import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the import price increased by 64%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform