Greece: Sesame Oil Market 2024

Sesame Oil Market Size in Greece

The Greek sesame oil market totaled $X in 2022, remaining stable against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +9.4% 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 -0.4% against 2020 indices. Sesame oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Sesame Oil Production in Greece

In value terms, sesame oil production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 203%. Sesame oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sesame Oil Exports

Exports from Greece

In 2022, after three years of growth, there was significant decline in shipments abroad of sesame oil, when their volume decreased by -40.3% to X tons. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 410% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, sesame oil exports contracted significantly to $X in 2022. Overall, exports, however, saw a notable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 281%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons), Finland (X tons) and Central African Republic (X tons) were the main destinations of sesame oil exports from Greece, with a combined 71% share of total exports. Mali, Portugal, France, Costa Rica and Cyprus lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +52.3%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Finland ($X) and Portugal ($X) were the largest markets for sesame oil exported from Greece worldwide, together comprising 73% of total exports.

In terms of the main countries of destination, Portugal, with a CAGR of +54.7%, saw the highest growth rate of the value of exports, 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, surging by 3.3% against the previous year. Over the period under review, the export price showed notable growth. The most prominent rate of growth was recorded in 2016 an increase of 31% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Finland ($X per ton) and Cyprus ($X per ton), while the average price for exports to Mali ($X per ton) and Central African Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+33.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Greece

In 2022, supplies from abroad of sesame oil increased by 58% to X tons, rising for the second year in a row after four years of decline. In general, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 when imports increased by 116%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sesame oil imports surged to $X in 2022. Over the period under review, imports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of 72%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest sesame oil supplier to Greece, accounting for a 44% share of total imports. Moreover, sesame oil imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+59.9% per year) and the Netherlands (+6.8% per year).

In value terms, China ($X), Poland ($X) and the Netherlands ($X) were the largest sesame oil suppliers to Greece, with a combined 61% share of total imports.

Poland, with a CAGR of +68.9%, recorded the highest growth rate of the value of imports, in terms of 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 2022, with a decrease of -10.3% against the previous year. Over the period under review, 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. The pace of growth appeared the most rapid in 2014 when the average import price increased by 73% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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