Global Sesame Market Witnesses Diverse Trends in Major Producing and Consuming Countries

Global Sesame Market Witnesses Diverse Trends in Major Producing and Consuming Countries

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In a comprehensive update from the Sesame Weekly report of 28 November 2023, the global sesame seed market is showing a complex array of trends across various major countries involved in its production and consumption.

India: A Major Contributor with Steady Market Dynamics

India has harvested an estimated 100,000 metric tons (MT) of sesame crops during the Kharif season. Most of this product has already reached the market. Despite the end of the festive season, the demand for white sesame is expected to increase over the next three months due to the onset of colder weather. This increase in domestic demand is likely to keep the prices stable. However, with Indian sesame prices being the highest in the international market, there is a lesser chance of export demand for natural sesame, although a regular export demand for hulled sesame is anticipated.

Ethiopia: A Significant Increase in Production

In Ethiopia, the anticipated production is around 220,000 to 240,000 MT, divided between 150,000 MT of Humera and 90,000 MT of Wollega varieties. This represents a significant increase over previous years, thanks to an expansion in the sowing area. However, the country still has about 20,000 MT of stock left from the previous season.

Japan: Stable Import Levels Amid Economic Adjustments

Japan’s sesame seed imports remained nearly constant from January to September 2023, with a total of 135,200 MT, a slight decrease compared to 137,567 MT imported during the same period in 2022. The value of the Japanese yen has dropped significantly throughout the year, which might lead to higher import unit prices and potentially a reduction in the quantity of sesame imported in the coming months.

China: A Key Player with Fluctuating Market Conditions

China’s sesame seed imports are forecasted to reach around 900,000 MT in 2023. As of November 18, 2023, the port inventory in China stands at approximately 160,000 MT. The local price is at the highest level, and the demand remains sluggish, despite China’s 2023 crop being much better than that of 2022. Additionally, the daily outflow of goods from the port is about 2,400 metric tons, and prices have been relatively stable.

Market Outlook: A Blend of Stability and Uncertainty

Overall, the global sesame market is experiencing a blend of stability and uncertainty. Countries like India and Ethiopia are witnessing stable market dynamics, while nations such as Japan and China are adjusting to economic changes and fluctuating demands. As the year progresses, it will be interesting to observe how these trends evolve and influence the global sesame trade.

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