Overview of Global Sesame Market
The global sesame market is witnessing significant shifts, with India emerging as a key player amidst fluctuating prices and diverse trade dynamics. This report delves into the latest trends and developments across major sesame-producing regions, emphasising India’s strategic position in the market.
Sesame Market in China
sesameIn China, the sesame market experienced a notable decrease in the selling price of Ethiopian Humera sesame, dropping from 16,200 RMB to 15,800 RMB ahead of expected February arrivals. The premium Togo-99 White sesame was traded at 15,200 RMB, indicating a downward trend. Despite these high prices, traders are maintaining minimal stocks, as evident from the approximately 86,318 MT at Qingdao port as of January 22, 2024. This cautious approach in stockholding reflects the market’s volatility. China’s import data for December 2023 showcases a diverse range of exporters, with Niger, Pakistan, and Myanmar leading.
South Korea’s Tender and India’s Dominant Bid
India’s Significant Acquisition in International Bidding
The South Korean sesame market made headlines with a 6,000 MT tender issued on January 11. India, demonstrating its robust market presence, secured the majority with a 4,500 MT bid. This significant acquisition not only reinforces India’s standing in the global arena but also sets a competitive benchmark with prices ranging between 2,049.90 and 2,142.00 USD/MT.
India’s Sesame Market: Domestic and Global Interplay
Domestic Challenges of Water in India’s Sesame Trade
India’s successful bid in the South Korean tender is a testament to its growing influence in the global sesame market. However, domestic challenges such as water scarcity in Saurashtra could potentially impact the upcoming sowing of summer sesame in Gujarat. Despite these concerns, India’s sesame import figures remain strong, with approximately 90,000 MT recorded between September 2023 and January 2024. The anticipated reach is between 15,000 to 20,000 MT for the January-February period. The preference for imported sesame over local varieties is driven by the competitive pricing, underscoring India’s strategic trade decisions in leveraging global market conditions.
African Nations in the Sesame Market
Nigeria and Burkina Faso’s Crop Size Estimates and Export Potentials
Nigeria’s sesame crop estimate stands between 320,000 and 350,000 MT, with about 200,000 MT already exported. Burkina Faso, on the other hand, expects a crop size of 150,000 to 160,000 MT, with significant export volumes already achieved. These figures highlight the substantial production capacities and export potential of these African nations.
Sesame Production in Chad, Tanzania, and Mozambique
Harvesting Trends and Global Market Contributions
Chad’s sesame harvest, estimated at 75,000 to 80,000 MT, has concluded, with significant exports to China and Turkey. Tanzania and Mozambique have commenced sowing, with harvests expected in May, adding to the global supply chain.
European Union’s Import Patterns from India
Year-on-Year Growth in Sesame Imports
The European Union’s import data reveals a significant year-on-year increase in both quantity and average price of sesame seeds from India. Major EU importers include Greece, Germany, Spain, and the Netherlands, with varying average prices per MT. In a year-on-year comparison between January and November 2023 versus the same period in 2022, the European Union’s sesame imports from India showed a marked increase. The quantity imported rose by 18%, from 17,301 metric tons in 2022 to 20,427 metric tons in 2023. This growth was accompanied by a 26% increase in the total value of imports, from 38,528 thousand USD in 2022 to 48,508 thousand USD in 2023. Additionally, the average price per metric ton escalated by 7%, from 2,227 USD/MT in 2022 to 2,375 USD/MT in 2023. These figures underscore a significant and growing demand for Indian sesame in the EU market, especially notable in November, where both quantity and value of imports showed considerable increases.
