Uzbekistan: Sesame Oil Market 2024

Sesame Oil Market Size in Uzbekistan

In 2021, after nine years of growth, there was significant decline in the Uzbek sesame oil market, when its value decreased by -9.1% to $X. Overall, consumption, however, showed a significant increase. Sesame oil consumption peaked at $X in 2020, and then dropped in the following year.

Sesame Oil Production in Uzbekistan

In value terms, sesame oil production contracted to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Sesame Oil Exports

Exports from Uzbekistan

In 2021, shipments abroad of sesame oil increased by 152% to X tons, rising for the fourth consecutive year after four years of decline. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 177% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sesame oil exports surged to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 252% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for sesame oil exports from Uzbekistan, accounting for a 77% share of total exports. Moreover, sesame oil exports to the United States exceeded the volume sent to the second major destination, Russia (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+29.4% per year) and Israel (-15.9% per year).

In value terms, the United States ($X) remains the key foreign market for sesame oil exports from Uzbekistan, comprising 84% of total exports. The second position in the ranking was held by Russia ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+26.4% per year) and Israel (-10.7% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, with an increase of 18% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 73%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained 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 Israel ($X per ton), while the average price for exports to Russia ($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 Israel (+6.2%), while the prices for the other major destinations experienced a decline.

Sesame Oil Imports

Imports into Uzbekistan

In 2021, overseas purchases of sesame oil decreased by -19.3% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 196%. Imports peaked at X tons in 2020, and then dropped notably in the following year.

In value terms, sesame oil imports surged to $X in 2021. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 277%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest sesame oil supplier to Uzbekistan, accounting for a 68% share of total imports. Moreover, sesame oil imports from China exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 6.8% share.

From 2017 to 2021, the average annual growth rate of volume from China amounted to +64.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+44.5% per year) and South Korea (+18.7% per year).

In value terms, China ($X) constituted the largest supplier of sesame oil to Uzbekistan, comprising 60% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 16% share of total imports. It was followed by Turkey, with an 11% share.

From 2017 to 2021, the average annual growth rate of value from China stood at +159.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+61.5% per year) and Turkey (+427.9% per year).

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, increasing by 51% against the previous year. Overall, the import price enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 an increase of 54% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by China (+57.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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