I just recalled another scene from this film - I am almost 100% sure that it is the same film but much earlier in the storyline. The aforementioned hero is still a boy at the time (about 8 years old) and has to escape from the palace or similar to avoid being captured by a wicked uncle. He is hidden in a basket by loyalists who then smuggle him out with other wares meant for the bazaar. At the gate, the baddie soldiers will be poking swords into every basket to ensure that the boy ( a young prince?) is not hidden there. They do the same with the basket in which the boy is actually hidden and nothing apparently happens. But as the basket is carried away, we notice blood seeping through the basket weaving. A short while later the boy reaches safety and when he is taken out of the basket we see that his arm was injured by the sword and he passes out. It is that same boy, I am almost sure, who grows-up, becomes the hero and defeats the other man in the aforementioned wrestling match.
About the only scene that I clearly recall is a wrestling sequence in a royal court fairly early into the film. They show a short clip of the reigning royal wrestler (I recall that he was wearing red knee length pants) throwing down a challenger. The champion is then challenged by the hero, a dark haired, slightly smaller man who arrives with some pomp. As helpers remove his gown, we see that the young challenger is wearing similar knee-length pants but in black. The wrestling match then begins and although the royal champion appears to have the upper hand to start with, the younger challenger finally throws him down & knocks him out, thus winning.
I know that it is not much to go on, but can someone guess what the title might be? I cannot recall any credits nor other scenes. But from what I recall, the aforementioned hero was NOT Steve Reeves or similar actor - he seemed younger and slightly shorter but well built.