India: Sesame Oil Market 2024

Sesame Oil Market Size in India

The Indian sesame oil market reached $X in 2021, almost unchanged from the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Sesame Oil Production in India

In value terms, sesame oil production fell modestly to $X in 2021 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +60.8% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 46% against the previous year. Sesame oil production peaked at $X in 2020, and then dropped modestly in the following year.

Sesame Oil Exports

Exports from India

In 2021, the amount of sesame oil exported from India fell to X tons, which is down by -9.4% against the previous year. Overall, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +14.3% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 42%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, sesame oil exports fell to $X in 2021. Over the period under review, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 65% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then reduced in the following year.

Exports by Country

The United States (X tons), Mexico (X tons) and the Netherlands (X tons) were the main destinations of sesame oil exports from India, with a combined 42% share of total exports. Vietnam, the United Arab Emirates, Malaysia, Singapore, Taiwan (Chinese), the UK, France, Canada, Australia and Sri Lanka lagged somewhat behind, together comprising a further 45%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +36.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for sesame oil exports from India, comprising 24% of total exports. The second position in the ranking was taken by Mexico ($X), with a 10% share of total exports. It was followed by the United Arab Emirates, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +34.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.5% per year) and the United Arab Emirates (+10.5% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, declining by -4.8% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average export price increased by 31% against the previous year. The export price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($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 Sri Lanka (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into India

In 2021, sesame oil imports into India contracted remarkably to X tons, shrinking by -29.4% against 2020 figures. Over the period under review, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 4,214%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, sesame oil imports declined remarkably to $X in 2021. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 1,279%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Bangladesh (X tons) constituted the largest supplier of sesame oil to India, with a 87% share of total imports. Moreover, sesame oil imports from Bangladesh exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bangladesh stood at -24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-3.3% per year) and the United States (+24.6% per year).

In value terms, the United States ($X), Bangladesh ($X) and Singapore ($X) appeared to be the largest sesame oil suppliers to India, together comprising 95% of total imports.

The United States, with a CAGR of +23.8%, saw 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 a decline.

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, picking up by 19% against the previous year. Overall, the import price, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 136% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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