Market whisperers assert that the price of white sesame, at $1,76 per kg, will not decline as long as the pipeline remains empty. Despite a bountiful crop, the prospect of a new season in five months leaves no room for recession. Gujarat anticipates a summer sesame crop of 0.175 million tonnes, boasting improved quality compared to the previous year. Around 90% to 95% of the crop will consist of white sesame, while the production of black sesame remains scarce.
The empty pipeline and the increasing demand from Middle Eastern countries make it improbable for the price of white sesame shortex to dip. The tender from Korea also falls within the range of current prices, leaving little possibility for further price decreases. However, a temporary dip may transpire for a few days if unexpected pressure mounts. However, high prices prompt farmers to sell a substantial portion of the crop, while stockists show minimal interest in purchasing.
Saurashtra currently witnesses a daily arrival of 50,000 bags, with a significant surge anticipated in the coming week. The market entices farmers with attractive rates of white sesame, encouraging them to sell. Buyers who secured orders through Korea’s tender will make purchases once the price decreases. Forwards contracts have been sold at $1,837.98 per MT for May, indicating future purchases. Only when the price drops will additional buyers enter the market.
Amidst the ebb and flow of the white sesame market, one thing remains clear: the journey continues, and fortunes are made by those who can navigate the unpredictable currents. The market awaits its next chapter, poised to reveal new twists and turns, and those involved must be ready to seize opportunities or risk being left adrift.