Price Volatility in Sesame Markets
The sesame market is experiencing notable fluctuations. In China, the price for Togo white sesame has decreased to $1,79 per kg from $1,99 per kg, causing losses for earlier buyers. Sudan’s Gadarif sesame stands at $1,99 per kg, while Pakistani sesame trades at $1,74 per kg. The overall stock at Qingdao port as of June 21, 2024, is approximately 228,900 MT. This trend reflects a broader pattern of price volatility across key markets.
Internationally, Indian Sortex sesame prices range between $1,82 to $1,85 per kg. In Gujarat, daily arrivals of white sesame range from 40,000 to 60,000 bags (60 kg each), priced at $1,62 to $1,68 per kg. The government’s increased Minimum Support Price (MSP) for sesame, now at $1,11 per kg, underscores the market’s attempts to stabilize amid fluctuations.
Impact of Weather on Brazilian Sesame Crop
Brazil’s sesame crop has faced significant challenges due to severe drought, leading to early termination of soybean crops and subsequent early sesame planting. This early planting has shown good productivity in some areas. But regions planted in May are expected to yield lower production. The harvest period, usually around 45 days, is now extended to 1-2 months due to the staggered planting and drought effects.
In Tanzania, the ongoing sesame harvest is progressing, with around 100,000 MT traded through the government auction system. The auction process is set to continue until mid-August, with 75,000 MT exported and 25,000 MT traded in open markets. Pakistan anticipates a robust sesame crop this year, with significant contributions from Punjab.
Export and Import Statistics
From January to April 2024, Turkey’s sesame exports reached 12,654 MT, significantly up from 5,826 MT in the same period last year. However, imports decreased from 75,935 MT to 67,892 MT. The lengthy transit time from East Africa to Mersin, spanning 75-90 days. It affects trade dynamics, with sellers often preferring to sell to China.
Local sesame prices in Türkiye have declined due to reduced summer demand, with warehouses in Mersin holding approximately 35,000-40,000 MT. Brazil’s exports to Türkiye have increased, driven by lower prices and higher freight costs from East African countries and Pakistan.
The sesame market is experiencing dynamic shifts driven by global price fluctuations, regional weather impacts, and trade patterns. The interplay between these factors will continue to shape market behavior in the coming months.