The onset of the year saw a good trade in Sesame, and it gradually started felling in February, but since mid-march, it started recovering. April proved to be the cruellest month as Sesame began its downward journey, and the pattern continued in May, but at the end of May, it recovered a bit. Sesame saw a downfall in June but also saw hikes, and the consolidated pattern continued in July. Thus July and August were the stable months for Sesame. However, in September, it oscillated between stagnancy and growth. The bull run was witnessed in October, and the same trend continued in November. However, as the year-end neared, Sesame also started slipping.
January-April
January was good for Sesame as the demand in the market was visible due to Makar Sankranti festivities. However, there was no export demand in January. The Korean Tender announcement affected the charts positively, but it was temporary, so the prices fell. In March, sesame saw hikes as India got some share in the Korean tender, but the Korean consignments testing at ports influenced it negatively. Sesame was supposed to undergo 523 types of new pesticide testing on ports, and 2,700 tons were rejected as per these testing methods in March. The market wobbled between bearishness and stability until the new arrivals.
May-August
The downtrend was visible in May with minor corrections, but overall it traded at low rates. However, in June, the commodity started falling and faced many challenges. It was as Pakistan received good support from China regarding quality seeds, and Iran procured Sesame from Pakistan as the freight costs were affordable. A minuscule growth was noticed in July, and the market was anxious due to some challenges. For example, Indonesia announced that they may remove the policy of “Domestic Market Obligation “, and the stability continued in August as well.
September-December
Most of September witnessed stagnancy, but at the end of the month, a rise was noticed as a revolutionary breakthrough occurred in sesame cultivation. A new variety called “Equinom Smarter Sesame” was created by an Israeli food technology business using artificial intelligence and genome sequencing techniques. In October, a rise was noticed as Sesame’s arrivals impacted the market; in November, the bullish trend continued. As demand was visible from the hulling, sorting and oil-producing industries, need reasonable quantities of Sesame, and for that, inquiries were made by the local traders. Last year the import was approximately 25,000 tons, and this season the figure is standing at 35,000 tons, but the exact amount of the imported goods will be precise at the end of January.
However, the future probability of orders from importers is negligible due to low demands from the domestic and international end, particularly from China. Overall, Sesame saw a northward journey with its ups and downs. The starting rates were $1560, and in December, the prices were $1970. However, various factors, such as the competitive prices of Pakistani Sesame and damage to standing crops in Uttar Pradesh and Madhya Pradesh, affected the market sentiment.
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