Republic of Korea - Sesame Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSesame Oil Price in South Korea - 2022
Contents:
- Sesame Oil Price in South Korea (FOB) - 2022
- Sesame Oil Price in South Korea (CIF) - 2022
- Sesame Oil Exports in South Korea
- Sesame Oil Imports in South Korea
Sesame Oil Price in South Korea (FOB) - 2022
In December 2022, the average sesame oil export price amounted to $9,424 per ton, declining by -4.4% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in January 2022 an increase of 16% m-o-m. The export price peaked at $11,310 per ton in February 2022; however, from March 2022 to December 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was the Philippines ($11,736 per ton), while the average price for exports to the UK ($6,818 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.
Sesame Oil Price in South Korea (CIF) - 2022
In 2022, the average sesame oil import price amounted to $3,758 per ton, with an increase of 7.2% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sesame oil import price increased by +8.9% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 62% against the previous year. The import price peaked at $5,932 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($4,663 per ton), while the price for China ($3,248 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced a decline.
Sesame Oil Exports in South Korea
For the fourth year in a row, South Korea recorded growth in shipments abroad of sesame oil, which increased by 11% to 1.2K tons in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +26.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 58% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, sesame oil exports soared to $12M in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 55% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Sesame Oil in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,604 | 3,129 | 3,715 | 3,814 | 33.5% |
| Australia | 539 | 675 | 444 | 1,077 | 26.0% |
| Canada | 302 | 409 | 457 | 1,064 | 52.2% |
| Taiwan (Chinese) | 173 | 351 | 459 | 791 | 66.0% |
| Japan | 240 | 208 | 198 | 468 | 24.9% |
| Philippines | 150 | 303 | 199 | 444 | 43.6% |
| Netherlands | 274 | 376 | 402 | 444 | 17.5% |
| Vietnam | 341 | 341 | 274 | 341 | 0.0% |
| Mongolia | 137 | 211 | 218 | 322 | 33.0% |
| Russia | 211 | 227 | 339 | 303 | 12.8% |
| Germany | 155 | 255 | 291 | 295 | 23.9% |
| Hong Kong SAR | 82.4 | 182 | 220 | 284 | 51.1% |
| United Kingdom | 153 | 249 | 271 | 246 | 17.2% |
| Others | 961 | 1,317 | 1,517 | 1,691 | 20.7% |
| Total | 5,323 | 8,233 | 9,004 | 11,585 | 29.6% |
Top Export Markets for Sesame Oil from South Korea in 2022:
- United States (392.6 tons)
- Canada (179.6 tons)
- Australia (118.5 tons)
- Taiwan (Chinese) (77.6 tons)
- Netherlands (45.0 tons)
- Japan (43.0 tons)
- Philippines (41.5 tons)
- Vietnam (34.9 tons)
- Russia (32.5 tons)
- United Kingdom (29.8 tons)
- Mongolia (29.2 tons)
- Hong Kong SAR (29.2 tons)
- Germany (26.8 tons)
Sesame Oil Imports in South Korea
For the fourth year in a row, South Korea recorded growth in supplies from abroad of sesame oil, which increased by 3.8% to 756 tons in 2022. The total import volume increased at an average annual rate of +14.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 39%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, sesame oil imports expanded markedly to $2.8M in 2022. The total import value increased at an average annual rate of +10.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 17%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.
| Import of Sesame Oil in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 951 | 959 | 1,567 | 1,459 | 15.3% |
| Vietnam | 450 | 1,025 | 411 | 700 | 15.9% |
| Mexico | 161 | 203 | 356 | 524 | 48.2% |
| Myanmar | 98.8 | 124 | 119 | N/A | 9.7% |
| Others | 423 | 130 | 99.0 | 158 | -28.0% |
| Total | 2,083 | 2,441 | 2,552 | 2,841 | 10.9% |
Top Suppliers of Sesame Oil to South Korea in 2022:
- China (449.1 tons)
- Vietnam (178.4 tons)
- Mexico (112.4 tons)
This report provides an in-depth analysis of the sesame oil market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 290 - Oil of Sesame Seed
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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