Iran: Sesame Oil Market 2024

Sesame Oil Market Size in Iran

In 2021, after two years of decline, there was growth in the Iranian sesame oil market, when its value increased by 0.5% to $X. Over the period under review, consumption, however, showed a resilient expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Sesame Oil Production in Iran

In value terms, sesame oil production soared to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed noticeable growth. The growth pace was the most rapid in 2018 when the production volume increased by 168% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Sesame Oil Exports

Exports from Iran

After two years of growth, shipments abroad of sesame oil decreased by -50.2% to X tons in 2021. In general, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 359% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, sesame oil exports fell to $X in 2021. Overall, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 490%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for sesame oil exports from Iran, with a 72% share of total exports. Moreover, sesame oil exports to Germany exceeded the volume sent to the second major destination, Canada (X kg), eightfold. The third position in this ranking was held by Georgia (X kg), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +63.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-4.5% per year) and Georgia (+12.7% per year).

In value terms, Germany ($X) emerged as the key foreign market for sesame oil exports from Iran, comprising 67% of total exports. The second position in the ranking was taken by Canada ($X), with a 12% share of total exports. It was followed by Norway, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +69.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-9.7% per year) and Norway (+42.6% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, jumping by 72% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2018 an increase of 85%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while the average price for exports to Qatar ($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 Oman (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Iran

In 2021, purchases abroad of sesame oil decreased by -91.3% to X tons, falling for the fourth consecutive year after three years of growth. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2015 when imports increased by 138% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, sesame oil imports fell significantly to $X in 2021. Over the period under review, imports showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 124% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest sesame oil supplier to Iran, accounting for a 89% share of total imports. Moreover, sesame oil imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was taken by Mexico (X tons), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-25.2% per year) and Mexico (-20.0% per year).

In value terms, India ($X) constituted the largest supplier of sesame oil to Iran, comprising 83% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 6.3% share of total imports. It was followed by Mexico, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-18.8% per year) and Mexico (-15.9% per year).

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2021, jumping by 34% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sesame oil import price increased by +57.8% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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