Since the middle of the last month, the sesame seed price has been stable, strong and upward. Starting at $1,52 per kg FOB for White Hulled Sesame Seeds Auto Dry 99.98%, it closed at $1,68 per kg FOB last month. It rose to $ 1,70 per kg FOB this month.
The price is expected to improve further in the upcoming weeks, with the Korean tender reaching the market soon and expected in a week. With strong domestic and international demand, the sesame seed price in India is likely to have a bullish effect.
India is the second-largest producer of the global sesame seed and shares 14.98% after Sudan. However, with the political disturbance in Sudan and the COVID-19 situation still looming, India can likely have a better international market for sesame seed.
Though the COVID-19 pandemic affected the trade of the sesame seed and the future of the growers were certain, experts think that sowing has been done for this year Kharif (winter) crop and reduced in India, especially in Gujarat around 33% to 35% for sesame seeds compared to last year, as many farmers have selected peanuts for sowing this year. Last year there was a lot of sesame seeds crop damage due to rain, which is one of the main reasons farmers shift from sesame to peanuts crop. Furthermore, last year despite the pandemic and crop damage, there was an increase in the export of the seed from 66,131 tons to 68,483 tons, but the value had gone down from 9,135 million to 8,461 million.
But with South Korea one of the leading importers of Indian sesame seeds and their tender arriving in the market soon, the commodity prices will be on the rise. Also, increasing domestic demand due to festival seasons is good news for traders and farmers of sesame seeds.
The following reports may be of interest to you:
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