South Africa: Sesame Oil Market 2024

Sesame Oil Market Size in South Africa

The South African sesame oil market declined to $X in 2021, shrinking by -10.5% against the previous year. Overall, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% 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 +12.2% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Sesame Oil Production in South Africa

In value terms, sesame oil production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2016 with an increase of 30%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Sesame Oil Exports

Exports from South Africa

In 2021, shipments abroad of sesame oil was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 470%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, sesame oil exports soared to $X in 2021. In general, exports recorded a tangible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 371% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Namibia (X tons), Botswana (X tons) and Lesotho (X tons) were the main destinations of sesame oil exports from South Africa, together comprising 98% of total exports.

From 2012 to 2021, the biggest increases were in Botswana (with a CAGR of +15.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for sesame oil exported from South Africa were Namibia ($X), Botswana ($X) and Lesotho ($X), with a combined 96% share of total exports.

In terms of the main countries of destination, Namibia, with a CAGR of +11.6%, 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, rising by 40% against the previous year. In general, the export price, however, recorded a perceptible contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Botswana ($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 Zimbabwe (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.

Sesame Oil Imports

Imports into South Africa

Sesame oil imports into South Africa dropped to X tons in 2021, falling by -8.5% on 2020. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 31%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, sesame oil imports reached $X in 2021. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), Thailand (X tons) and the United Arab Emirates (X tons) were the main suppliers of sesame oil imports to South Africa, together comprising 47% of total imports. These countries were followed by Singapore, Mexico, India, Spain, South Korea, Hong Kong SAR and Taiwan (Chinese), which together accounted for a further 49%.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +51.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Mexico ($X) appeared to be the largest sesame oil suppliers to South Africa, together accounting for 51% of total imports. These countries were followed by Spain, India, China, Hong Kong SAR, the United Arab Emirates, South Korea and Taiwan (Chinese), which together accounted for a further 44%.

Spain, with a CAGR of +48.6%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, surging by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The growth pace was the most rapid in 2019 when the average import price increased by 28% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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