Hong Kong SAR, China: Sesame Oil Market 2024

Sesame Oil Market Size in Hong Kong SAR, China

The Hong Kong sesame oil market shrank to $X in 2021, with a decrease of -6.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Sesame Oil Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of sesame oil increased by 15% to X tons for the first time since 2012, thus ending a eight-year declining trend. Over the period under review, exports, however, saw a abrupt shrinkage. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, sesame oil exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Macao SAR (X tons) and the UK (X tons) were the main destinations of sesame oil exports from Hong Kong SAR, with a combined 68% share of total exports. Australia, the United States, New Zealand, South Africa, Italy, Turkey and Canada lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +11.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sesame oil exported from Hong Kong SAR were the Netherlands ($X), the UK ($X) and Macao SAR ($X), with a combined 69% share of total exports. Australia, New Zealand, South Africa, the United States, Turkey, Italy and Canada lagged somewhat behind, together comprising a further 18%.

Among the main countries of destination, Italy, with a CAGR of +13.6%, 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

The average sesame oil export price stood at $X per ton in 2021, remaining stable against the previous year. Over the last nine years, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2013 an increase of 7.9%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Hong Kong SAR, China

Sesame oil imports into Hong Kong SAR shrank slightly to X tons in 2021, approximately equating 2020 figures. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 4.5% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, sesame oil imports reduced modestly to $X in 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 8.1% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest sesame oil supplier to Hong Kong SAR, accounting for a 52% share of total imports. Moreover, sesame oil imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.3% per year) and Taiwan (Chinese) (-7.9% per year).

In value terms, the largest sesame oil suppliers to Hong Kong SAR were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 92% share of total imports. These countries were followed by South Korea and Singapore, which together accounted for a further 6.6%.

In terms of the main suppliers, South Korea, with a CAGR of +25.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, shrinking by -3.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 8.1%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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