Hong Kong SAR, China: Sesame Seed Market 2024

Sesame Seed Market Size in Hong Kong SAR, China

In 2022, the Hong Kong sesame seed market increased by 14% to $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption saw strong growth. Sesame seed consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Sesame Seed Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of sesame seed were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, faced a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 418% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sesame seed exports expanded rapidly to $X in 2022. In general, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2015 when exports increased by 127% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of sesame seed exports from Hong Kong SAR, together accounting for 76% of total exports. Canada, Suriname, Australia and the UK lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +1.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for sesame seed exported from Hong Kong SAR were Macao SAR ($X), the Netherlands ($X) and the United States ($X), together accounting for 73% of total exports. Canada, Suriname, Australia and the UK lagged somewhat behind, together comprising a further 15%.

Suriname, with a CAGR of +3.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 seed export price amounted to $X per ton, rising by 8.1% against the previous year. Over the period under review, the export price showed a resilient expansion. The growth pace was the most rapid in 2014 when the average export price increased by 134% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Suriname ($X per ton), while the average price for exports to the United States ($X per ton) and Macao SAR ($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 China (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Seed Imports

Imports into Hong Kong SAR, China

After four years of decline, supplies from abroad of sesame seed increased by 3.3% to X tons in 2022. Over the period under review, imports, however, showed a pronounced curtailment. The growth pace was the most rapid in 2016 when imports increased by 239%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, sesame seed imports soared to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 156% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of sesame seed to Hong Kong SAR, accounting for a 54% share of total imports. Moreover, sesame seed imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.8% per year) and Mexico (+8.1% per year).

In value terms, the largest sesame seed suppliers to Hong Kong SAR were India ($X), China ($X) and Japan ($X), with a combined 79% share of total imports. Mexico and Taiwan (Chinese) lagged somewhat behind, together comprising a further 21%.

Mexico, with a CAGR of +11.5%, recorded the highest rates of growth with regard to 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 seed import price stood at $X per ton in 2022, rising by 13% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 increased by +72.2% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 44%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :