Kuwait: Sesame Oil Market 2024

Sesame Oil Market Size in Kuwait

In 2021, the Kuwaiti sesame oil market decreased by -24.7% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, posted a prominent expansion. Sesame oil consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sesame Oil Exports

Exports from Kuwait

In 2021, overseas shipments of sesame oil increased by 20% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2014 when exports increased by 235% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, sesame oil exports fell modestly to $X in 2021. Over the period under review, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 177% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for sesame oil exports from Kuwait, with a 85% share of total exports. Moreover, sesame oil exports to Saudi Arabia exceeded the volume sent to the second major destination, Iran (X kg), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia totaled +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+2.3% per year) and Ethiopia (0.0% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for sesame oil exports from Kuwait, comprising 96% of total exports. The second position in the ranking was taken by Iran ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-9.1% per year) and Ethiopia (0.0% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, dropping by -19.6% against the previous year. Overall, the export price saw a perceptible reduction. The pace of growth appeared the most rapid in 2017 an increase of 151% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Iran ($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 Iraq (+378.6%), while the prices for the other major destinations experienced a decline.

Sesame Oil Imports

Imports into Kuwait

In 2021, overseas purchases of sesame oil decreased by -15.6% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, saw noticeable growth. The pace of growth appeared the most rapid in 2019 with an increase of 73%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sesame oil imports reduced markedly to $X in 2021. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 63%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), Jordan (X tons) and France (X tons) were the main suppliers of sesame oil imports to Kuwait, with a combined 84% share of total imports. Lebanon, Singapore, the United Arab Emirates and Syrian Arab Republic lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +99.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame oil suppliers to Kuwait were India ($X), Jordan ($X) and France ($X), with a combined 76% share of total imports. Lebanon, Singapore, the United Arab Emirates and Syrian Arab Republic lagged somewhat behind, together comprising a further 14%.

The United Arab Emirates, with a CAGR of +78.9%, saw 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, dropping by -12% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.7% 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 +21.6% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 28%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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