Malaysia: Sesame Oil Market 2024

Sesame Oil Market Size in Malaysia

In 2021, the Malaysian sesame oil market decreased by -6.1% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption saw a relatively flat trend pattern. Sesame oil consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Sesame Oil Production in Malaysia

In value terms, sesame oil production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 24% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Sesame Oil Exports

Exports from Malaysia

In 2021, after two years of growth, there was significant decline in overseas shipments of sesame oil, when their volume decreased by -12.6% to X tons. Over the period under review, exports, however, enjoyed moderate growth. The most prominent rate of growth was recorded in 2014 when exports increased by 149%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, sesame oil exports fell dramatically to $X in 2021. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 157% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then reduced notably in the following year.

Exports by Country

Singapore (X tons) was the main destination for sesame oil exports from Malaysia, accounting for a 39% share of total exports. Moreover, sesame oil exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was held by the Philippines (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+1.8% per year) and the Philippines (+40.4% per year).

In value terms, Singapore ($X), the Philippines ($X) and Indonesia ($X) were the largest markets for sesame oil exported from Malaysia worldwide, with a combined 68% share of total exports.

The Philippines, with a CAGR of +44.0%, saw the highest rates of growth with regard to 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

The average sesame oil export price stood at $X per ton in 2021, reducing by -2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 22% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced modestly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Thailand ($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 the Philippines (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Sesame Oil Imports

Imports into Malaysia

Sesame oil imports into Malaysia dropped dramatically to X tons in 2021, falling by -21.4% compared with the previous year's figure. Overall, imports, however, enjoyed a measured increase. The pace of growth was the most pronounced in 2013 when imports increased by 118%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, sesame oil imports fell dramatically to $X in 2021. In general, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +6.8% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 84%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of sesame oil to Malaysia, accounting for a 54% share of total imports. Moreover, sesame oil imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.1% per year) and Taiwan (Chinese) (+10.9% per year).

In value terms, the largest sesame oil suppliers to Malaysia were India ($X), China ($X) and Singapore ($X), with a combined 83% share of total imports.

India, with a CAGR of +23.7%, 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 mixed trend patterns.

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2021, increasing by 7.8% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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