Turkey: Sesame Oil Market 2024

Sesame Oil Market Size in Turkey

After two years of growth, the Turkish sesame oil market decreased by -2.5% to $X in 2021. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +87.4% against 2013 indices. Sesame oil consumption peaked at $X in 2020, and then contracted modestly in the following year.

Sesame Oil Production in Turkey

In value terms, sesame oil production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +89.2% against 2013 indices. The most prominent rate of growth was recorded in 2015 with an increase of 25% against the previous year. Sesame oil production peaked at $X in 2020, and then declined in the following year.

Sesame Oil Exports

Exports from Turkey

Sesame oil exports from Turkey surged to X tons in 2021, with an increase of 30% against the previous year's figure. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2016 with an increase of 7,044% against the previous year. 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 soared to $X in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 3,542%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for sesame oil exports from Turkey, with a 61% share of total exports. Moreover, sesame oil exports to the UK exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +259.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+113.0% per year) and the Netherlands (+274.1% per year).

In value terms, the UK ($X), the Netherlands ($X) and the United Arab Emirates ($X) were the largest markets for sesame oil exported from Turkey worldwide, together comprising 77% of total exports.

The Netherlands, with a CAGR of +163.6%, saw the highest rates of growth with regard to the value of exports, among 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, growing by 5.1% against the previous year. In general, the export price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 476%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the UK ($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 Iran (+25.2%), while the prices for the other major destinations experienced a decline.

Sesame Oil Imports

Imports into Turkey

After four years of growth, supplies from abroad of sesame oil decreased by -64.7% to X tons in 2021. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 82%. Imports peaked at X tons in 2020, and then shrank significantly in the following year.

In value terms, sesame oil imports contracted remarkably to $X in 2021. In general, imports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 119%. Imports peaked at $X in 2020, and then reduced notably in the following year.

Imports by Country

In 2021, Somalia (X tons) constituted the largest sesame oil supplier to Turkey, accounting for a 72% share of total imports. Moreover, sesame oil imports from Somalia exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold. The United Arab Emirates (X kg) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Somalia stood at +83.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+68.7% per year) and the United Arab Emirates (-18.0% per year).

In value terms, Somalia ($X) constituted the largest supplier of sesame oil to Turkey, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Singapore, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value from Somalia stood at +105.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+55.5% per year) and Singapore (+9.7% per year).

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, picking up by 94% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Somalia (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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