Sesame oil and fractions market in Greece

Earlier Report Observations

From 2018 to 2020, the sesame oil market volume in Greece gradually declined from 5,446 t to 5,319 t, while the market value increased from $45.9 million to $51.5 million. This volume reduction coincided with regulatory tightening, including a ban on bulk sales in packaging over 5 liters and enhanced harvest declaration requirements to improve traceability. Stricter controls on unauthorized plant protection products in 2020 also raised quality standards, likely contributing to the value increase.

In 2021, the market surged to 6,627 t with a value of $62.1 million, partly driven by improved accounting from ongoing updates to the cultivation register, which enhanced production monitoring and legality. However, in 2022, volume dropped to 5,475 t and value to $53.0 million, following the imposition of stricter fines for illegal sales and transportation without proper documentation, which reduced illicit market activity.

By 2023, the market recovered to 6,111 t with value rising sharply to $69.2 million, amidst continued full transparency policies and standardization efforts that encouraged legal sesame oil production and trade.

Production sesame oil and fractions in Greece

In kind, 2017-2020, t

Globally, Greece ranked as the 28th largest producer of sesame oil and fractions during the period from 2017 to 2020.

Top producers of sesame oil and fractions, 2017-2020

World map of production of sesame oil and fractions, 2017-2020

Greece's production volume of sesame oil and fractions declined for the second year in a row. In 2020, the country produced 5 317 tonnes, marking a 1.2% decrease compared to the previous year. Over the four-year span from 2017 to 2020, production grew by 2.7%, which translates to an average annual increase of 0.9%. The peak production was recorded in 2018 at 5 438 tonnes, with the largest year-on-year growth of 5.0% also occurring that year.

Annual dynamics of production in Greece in kind, 2017-2020, t

In value, 2017-2020, K $ US

The value of sesame oil and fractions production in Greece rose for the third consecutive year. In 2020, output was valued at 51 603 thousand US dollars, reflecting a modest 9.0% increase year-over-year. From 2017 to 2020, production value surged by 48.5%, averaging an annual growth rate of 14.1%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

Exports sesame oil and fractions from Greece

Exports in kind, kg

In 2020, Greece exported 17 182 kilograms of sesame oil and fractions, a slight decline of 0.6% compared to the previous year. Over the period from 2017 to 2020, exports fell by 58.2%, with a compound annual growth rate of -25.2%. The lowest export volume was recorded in 2018 at 16 751 kilograms, which also saw the sharpest drop of 59.3%. In contrast, exports increased by 3.2% in 2019.

Annual dynamics of product's exports from Greece in kind, 2017-2020, kg

From 2017 to 2020, the top destinations for Greece's sesame oil and fractions exports in volume terms were Poland, accounting for 44.9% of exports, Finland with 20.4%, and Costa Rica at 4.9%. Together, these three countries represented 70.2% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Greece's export value of sesame oil and fractions increased for the second year in a row. In 2020, exports reached 166.8 thousand US dollars, up by 9.6% year-over-year. However, over the 2017-2020 period, export value decreased by 39.6%, with a compound annual growth rate of -15.4%. The lowest value was recorded in 2018 at 141.2 thousand US dollars, which also experienced the largest decline of 48.8%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Between 2017 and 2020, Poland was the leading buyer of sesame oil and fractions from Greece in value terms, representing 37.8% of exports, followed by Finland at 27.0%, and Costa Rica at 5.2%. Collectively, these three markets accounted for 70.0% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports sesame oil and fractions to Greece

Imports in kind, kg

Greece's import volume of sesame oil and fractions fell for the third consecutive year. In 2020, imports totaled 19 138 kilograms, a reduction of 3.8% compared to 2019. From 2017 to 2020, imports dropped by 46.2%, averaging an annual decline of 18.7%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, kg

Throughout 2017 to 2020, China was the primary source for Greece's sesame oil and fractions imports in volume terms, contributing 26.5% of imports, followed by the Netherlands at 16.3%, and Germany at 14.7%. These three countries together made up 57.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

The value of sesame oil and fractions imports into Greece declined for the third year in a row. In 2020, imports amounted to 113.3 thousand US dollars, a substantial decrease of 21.3% compared to 2019. Over the 2017-2020 period, import value fell by 45.4%, with a compound annual growth rate of -18.3%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

From 2017 to 2020, Spain led as the top source for Greece's sesame oil and fractions imports in value terms, accounting for 26.2% of imports, followed by China at 17.0%, and the United Kingdom at 14.5%. Together, these three countries represented 57.7% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020