Italy: Sesame Oil Market 2024

Sesame Oil Market Size in Italy

The Italian sesame oil market dropped modestly to $X in 2021, declining by -3.4% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value 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. Based on 2021 figures, consumption increased by +13.7% against 2013 indices. Sesame oil consumption peaked at $X in 2020, and then contracted modestly in the following year.

Sesame Oil Production in Italy

In value terms, sesame oil production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +7.7% against 2013 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 41% against the previous year. Sesame oil production peaked at $X in 2020, and then contracted in the following year.

Sesame Oil Exports

Exports from Italy

In 2021, overseas shipments of sesame oil decreased by -11.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 37% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, sesame oil exports stood at $X in 2021. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 40% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The Netherlands (X tons), the United States (X tons) and the UK (X tons) were the main destinations of sesame oil exports from Italy, together comprising 43% of total exports. These countries were followed by Poland, Denmark, France, the United Arab Emirates, Spain, Ecuador, Israel, Germany and Kuwait, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were in Israel (with a CAGR of +170.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sesame oil exported from Italy were the Netherlands ($X), the United States ($X) and Denmark ($X), together comprising 49% of total exports. These countries were followed by Ecuador, the UK, France, Poland, Spain, the United Arab Emirates, Germany, Kuwait and Israel, which together accounted for a further 39%.

In terms of the main countries of destination, Israel, with a CAGR of +92.2%, 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, growing by 14% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.2% 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 +13.0% against 2018 indices. The growth pace was the most rapid in 2018 when the average export price increased by 21% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Ecuador ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Italy

In 2021, sesame oil imports into Italy rose to X tons, picking up by 3.4% compared with 2020 figures. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 114%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, sesame oil imports surged to $X in 2021. Over the period under review, imports showed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 99% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

France (X tons), Germany (X tons) and India (X tons) were the main suppliers of sesame oil imports to Italy, with a combined 65% share of total imports. The Netherlands, Mexico, Paraguay and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +64.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame oil suppliers to Italy were France ($X), Germany ($X) and the Netherlands ($X), together comprising 69% of total imports. These countries were followed by India, Mexico, Taiwan (Chinese) and Paraguay, which together accounted for a further 19%.

Taiwan (Chinese), with a CAGR of +67.6%, recorded the highest rates of growth with regard to the value of imports, among 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, surging by 15% against the previous year. In general, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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