Sesame Market Failed To Stay Steady In February

Despite the announcement of the Korean Tender, the market failed to stay firm. Instead, there have been significant price drops in all the varieties of sesame seeds, as predicted earlier.

Market Trend

The limited trade of the commodity has put the market in a bearish mode. The domestic and export demand is slow. The only export that has occurred so far is the Korean Tender. As of now, there is no hope of the market moving up unless anything drastic changes occur.

Additionally, the African sesame prices are less than India, which also moves the export demand on the other side of the world. Also, with the war between Ukraine and Russia, any export demands or queries have taken a back seat.

Also, with the wedding season being over, the domestic purchase is depressing in the markets.

There has been a report that the sesame seed income in Gujarat is down by 200 sacks for the white variety. The other factor that has driven the market towards correction is the shortage of quality seeds.

There are reports that more than enough stock in Madhya Pradesh, Chhattisgarh, Maharashtra, Gujarat, and Uttar Pradesh has led to the price cap.

However, there was good news in the month of February, as India was able to procure the majority share of the Korean Tender, which was announced in three parts. As a result, India got the opportunity to fulfill 3900 tons of export.

As a result, the buying activity increased among the exporters and traders, which helped the rise in price for a few days. However, with the procurement being fulfilled, the market returned to being stable and then experienced a slump.

Prediction

There is optimism that the new Korean Tender will be released in the coming months, which can put the market up. But as of now, market experts believe that the stockists are stuck with high-priced sesame seeds and will suffer losses in the coming days. This is mainly because the demand for Indian sesame will continue to be low in the international market due to the higher price than other sesame-producing countries.

Price Trend

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