In the world of sesame seeds, a recent tender announcement from South Korea has raised eyebrows. Instead of the expected 8,000 to 10,000 tons, the tender is only for 1,800 tons of sesame seeds. This unexpected turn of events is likely to impact sesame seed prices.
The bidding for South Korea’s sesame seed tender is scheduled for October 6th, with sesame seed delivery expected by December 15th. For your reference, the table is attached below.
| P1 Sesame Seed | |||||
|---|---|---|---|---|---|
| Invitation Number | Quantity | Period of Arrival | Destination Port | Time Limit for Registration | Date of Bids |
| AT2628-S1-23(832) | 1,800 MT | 23.12.15. | Busan | 23.10.5. 14:00 KST | 10:00-11:00 (KST) ‘23.10.6. |
While this tender alone may not significantly boost the market, other factors are at play. This season’s sesame seed crop, known as the Kharif crop, faces challenges. Heavy rains in July led to the burning of white sesame crops in states like Gujarat. Initially, the country’s sesame crop estimates were around 0.150 million tonnes. However, this estimate has been revised downward to 0.125 million tonnes, and now, due to recent heavy rains in sesame-producing states like Rajasthan, it’s expected to decrease further to about one lakh tonnes.
Out of this expected one lakh tonnes of white sesame crop, only 25,000 tons are anticipated to be of good quality, meeting Korean standards. Rajasthan, which initially held hopes of a good harvest, has also been affected by recent rains, resulting in a minor crop expectation from the region. Gujarat’s sesame crop could be faring better, too, with traders estimating a yield of only five to seven thousand tonnes.
The sesame seed market faces multiple challenges, from a limited tender in South Korea to a dwindling kharif crop in India. These factors are poised to influence sesame seed prices in the coming days, with a potential increase.