GCC: Sesame Oil Market 2024

Sesame Oil Market Size in GCC

The GCC sesame oil market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Sesame Oil Production in GCC

In value terms, sesame oil production declined markedly to $X in 2022 estimated in export price. Overall, production, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Sesame Oil Exports

Exports in GCC

In 2022, after five years of growth, there was significant decline in overseas shipments of sesame oil, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. The volume of export peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, sesame oil exports contracted dramatically to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporter of sesame oil in GCC, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of sesame oil. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest sesame oil supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Sesame Oil Imports

Imports in GCC

In 2022, approx. X tons of sesame oil were imported in GCC; approximately equating 2021. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, sesame oil imports rose significantly to $X in 2022. Overall, imports posted a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together achieving X% of total imports. Kuwait (X tons) took the next position in the ranking, followed by Qatar (X tons). All these countries together took near X% share of total imports. The following importers - Oman (X tons) and Bahrain (X tons) - each reached a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Qatar, Oman and Bahrain lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Qatar, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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