Mexico: Sesame Oil Market 2024

Sesame Oil Market Size in Mexico

In 2021, after nine years of growth, there was significant decline in the Mexican sesame oil market, when its value decreased by -9.8% to $X. In general, consumption, however, showed strong growth. Sesame oil consumption peaked at $X in 2020, and then fell in the following year.

Sesame Oil Production in Mexico

In value terms, sesame oil production reduced to $X in 2021 estimated in export price. Overall, production, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 49%. Sesame oil production peaked at $X in 2020, and then contracted slightly in the following year.

Sesame Oil Exports

Exports from Mexico

In 2021, approx. X tons of sesame oil were exported from Mexico; surging by 12% on the year before. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 58%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, sesame oil exports fell remarkably to $X in 2021. Over the period under review, total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.3% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 50% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for sesame oil exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +9.0%.

In value terms, the United States ($X) also remains the key foreign market for sesame oil exports from Mexico.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +11.1%.

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, reducing by -25.1% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.1% 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 decreased by -31.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 28%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for Japan amounted to +9.5% per year.

Sesame Oil Imports

Imports into Mexico

In 2021, the amount of sesame oil imported into Mexico contracted dramatically to X tons, dropping by -81.1% compared with the previous year's figure. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 437% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, sesame oil imports plummeted to $X in 2021. In general, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 438%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest sesame oil supplier to Mexico, accounting for a 68% share of total imports. Moreover, sesame oil imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) totaled +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.4% per year) and China (+5.9% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of sesame oil to Mexico, comprising 64% of total imports. The second position in the ranking was held by the United States ($X), with a 24% share of total imports. It was followed by Japan, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.5% per year) and Japan (-1.9% per year).

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2021, approximately mirroring the previous year. In general, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.2% 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 import price increased by +3.0% against 2017 indices. The pace of growth was the most pronounced in 2015 an increase of 87% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for China ($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 (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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