Sesame Seed Weekly Update

Current Price Trends Across Different Countries

The global market is showcasing a diverse range of sesame seed offers.

• From Pakistan, Hybrid/Sindh seeds are presented at prices ranging from $1,700 to $1,720 CNF/t for shipments in March.
• Meanwhile, Nigeria’s Lafia Sesame variety is being offered at $1,750 to $1,780 CNF/t for the same shipment period.
• Brazilian Whitish Sesame seeds are listed at prices similar to Pakistan’s offerings. Chad is putting forward whitish sesame seeds with 98-99% purity at $1,750 to $1,800 CNF/t.
• Notably, Sudan’s Gadaref Sesame Premium quality seeds are priced slightly higher, at $1,920 to $1,940 CNF/t, alongside their whitish sesame at $1,855 to $1,860 CNF.
• In Burkina Faso, both whitish and mixed sesame varieties are available at $1,800 to $1,810 CNF for March/April shipment.

Major EU Countries Importing Sesame from India

January 2024 saw Greece leading in sesame imports from India, with 198 tons valued at $491,000, averaging $2,480 per metric ton. The Netherlands followed, importing 165 tons at $421,000, with an average price of $2,555 per metric ton. Germany’s imports stood at 78 tons but boasted a higher average price of $2,597 per metric ton. Sweden marked the highest average price at $3,041 per metric ton for their 65-ton import. The overall import by EU countries from India totaled 921 tons, valued at approximately $2.365 million, with an average price of $2,569 per metric ton.

China’s Import Trends

In January 2024, China’s sesame seed imports showcased a diversified sourcing approach. Niger topped the list with imports valued at $73,615,000, followed by Togo at $42,365,000. Myanmar, Sudan, and Ethiopia were also significant contributors, with imports valued at $17,239,000, $8,646,000, and $8,176,000, respectively. Pakistan and Mozambique contributed substantial shares as well, with imports valued at $6,999,000 and $3,106,000, respectively. Mali and other sources rounded off the rest of the total import value, which amounted to $165,723,000 for the month.

China’s Market Situation

Over the past week, China has experienced an increase in sesame stock levels, due to significant imports from Chad and Ethiopia. Chadian sesame exporters have shipped numerous cargoes priced between $1,680 and $1,720 per metric ton, expected to arrive in Qingdao in the coming weeks. Ethiopian sesame cargoes, priced between $1,880 and $1,920 per metric ton, are also anticipated to arrive during the same period. Despite weak demand from end-users and no processing plans by sortex factories at the port, there’s optimism for an uptick in consumption. As of March 25, 2024, sesame stock at Qingdao port was approximately 183,056 metric tons.

India’s Production and Export Outlook

India anticipates a reduction in white sesame production in Gujarat, with estimates between 175,000 and 200,000 metric tons last year. A more definitive assessment of the sowing status is expected by early April. The crops from Gujarat are not anticipated in the market before mid-May. Moreover, summer sesame crops in Andhra Pradesh are estimated at 30,000 to 40,000 metric tons. In West Bengal, the sesame sowing season starts in June-July, following the potato harvest. The global market is set to see the introduction of the summer crop from Gujarat in May, followed by arrivals from Tanzania, Mozambique, Brazil, and Pakistan in subsequent months.

Tanzania and Mozambique’s Harvest

This year, Tanzania expects a promising sesame harvest, especially from the North Babati Region, starting as early as mid-April. Mozambique has nearly completed sowing its sesame crop, with key regions already in the flowering stage.

Impact of the Red Sea Crisis

The global trading landscape is adjusting to the Red Sea crisis by opting for longer alternative maritime routes. This has led to a 50% decrease in trade through the Suez Canal in the first two months of the year, compared to the previous year, while trade via the Cape of Good Hope has seen an estimated 74% increase. The crisis is causing delays and increased costs, potentially driving up inflation due to higher shipping expenses. Shipping companies are rerouting through South Africa, adding about two weeks to transit times and significantly increasing costs, including an additional $1 million or so per ship for passing through the Bab-el-Mandeb Strait. Furthermore, insurance and war risk premiums have surged, significantly affecting the cost structure of global trade.

Europe is particularly affected, with delayed deliveries and heightened costs exacerbating existing economic challenges. India’s trade, heavily dependent on the Red Sea route, faces disruptions, with approximately 50% of its imports and 60% of exports impacted by the crisis.

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