Indonesia: Sesame Oil Market 2024

Sesame Oil Market Size in Indonesia

The Indonesian sesame oil market rose sharply to $X in 2021, surging by 8.9% 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). Overall, consumption enjoyed a buoyant increase. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Sesame Oil Exports

Exports from Indonesia

In 2021, sesame oil exports from Indonesia surged to X tons, rising by 22% on 2020 figures. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 1,492%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, sesame oil exports surged to $X in 2021. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 1,988% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for sesame oil exports from Indonesia, accounting for a 62% share of total exports. Moreover, sesame oil exports to the Philippines exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), sixfold. The third position in this ranking was taken by Kiribati (X kg), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines totaled +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+11.0% per year) and Kiribati (0.0% per year).

In value terms, Australia ($X), the Philippines ($X) and Malaysia ($X) appeared to be the largest markets for sesame oil exported from Indonesia worldwide, together comprising 81% of total exports.

Malaysia, with a CAGR of +67.1%, saw the highest growth rate of 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 2021, the average sesame oil export price amounted to $X per ton, growing by 21% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sesame oil export price increased by +49.3% against 2018 indices. The pace of growth appeared the most rapid in 2016 an increase of 31%. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to the Philippines ($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 Australia (+20.8%), while the prices for the other major destinations experienced a decline.

Sesame Oil Imports

Imports into Indonesia

In 2021, the amount of sesame oil imported into Indonesia expanded slightly to X tons, picking up by 3.8% compared with 2020 figures. Overall, imports, however, saw a mild decrease. The pace of growth appeared the most rapid in 2016 with an increase of 51%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, sesame oil imports expanded notably to $X in 2021. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2014 with an increase of 84% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

Singapore (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of sesame oil imports to Indonesia, together accounting for 89% of total imports. Japan, the United States and South Korea lagged somewhat behind, together comprising a further 8.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +35.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and the United States ($X) constituted the largest sesame oil suppliers to Indonesia, with a combined 84% share of total imports. Malaysia, Japan and South Korea lagged somewhat behind, together accounting for a further 14%.

Japan, with a CAGR of +39.7%, saw 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

In 2021, the average sesame oil import price amounted to $X per ton, with an increase of 6.8% against the previous year. Over the period under review, the import price saw significant growth. The pace of growth was the most pronounced in 2013 an increase of 82% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for South Korea ($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 States (+45.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :