In 2023, sesame oil production in Singapore stood at 0.651 thousand metric tons. Over the last two years, the year-on-year variation has been notably negative. Specifically, from 2021 to 2022, production declined by 12.59% and from 2022 to 2023, it fell by 14%. Over the last five years, the production has declined at an average annual rate (CAGR) of 11.51% from 2019 to 2023.
Future forecasts indicate a continual sharp decline, with the production expected to decrease from 0.53461 thousand metric tons in 2024 to 0.09708 thousand metric tons by 2028. The forecasted 5-year CAGR is -28.91%, pointing to an overall decline of 81.84% in production over this period.
Future trends to watch for include global market demand shifts, potential advancements in production efficiency, and any regulatory changes in Singapore. Additionally, monitoring consumer preferences for alternative oils and changes in international trade policies will be crucial for understanding the broader context of sesame oil production trends.
