New Zealand: Sesame Oil Market 2024

Sesame Oil Market Size in New Zealand

The New Zealand sesame oil market expanded remarkably to $X in 2021, picking up by 5.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a prominent increase. Sesame oil consumption peaked in 2021 and is likely to continue growth in the near future.

Sesame Oil Exports

Exports from New Zealand

After two years of decline, overseas shipments of sesame oil increased by 157% to X tons in 2021. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 233%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, sesame oil exports surged to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 179% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Cook Islands (X tons), Samoa (X kg) and Fiji (X kg) were the main destinations of sesame oil exports from New Zealand, with a combined 78% share of total exports. Bahrain, French Polynesia, New Caledonia and Vanuatu lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were in French Polynesia (with a CAGR of +170.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cook Islands ($X), Fiji ($X) and Samoa ($X) constituted the largest markets for sesame oil exported from New Zealand worldwide, together comprising 69% of total exports. These countries were followed by Bahrain, New Caledonia, Vanuatu and French Polynesia, which together accounted for a further 19%.

Bahrain, with a CAGR of +203.3%, 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, dropping by -16.1% against the previous year. In general, the export price, however, posted prominent growth. The growth pace was the most rapid in 2016 when the average export price increased by 94% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Samoa ($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 Bahrain (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into New Zealand

In 2021, approx. X tons of sesame oil were imported into New Zealand; increasing by 3.5% compared with 2020 figures. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.8% against 2015 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 27%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, sesame oil imports rose significantly to $X in 2021. Over the period under review, imports recorded resilient growth. The pace of growth appeared the most rapid in 2020 when imports increased by 45% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of sesame oil imports to New Zealand, with a combined 62% share of total imports. These countries were followed by Malaysia, Mexico, Singapore, India, South Korea and Hong Kong SAR, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +14.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of sesame oil to New Zealand, comprising 35% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+15.5% per year) and Taiwan (Chinese) (+10.3% per year).

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2021, surging by 3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 15% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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