Sesame Seeds Unlikely to Have a Bearish Trend

New crops in Gujarat have started arriving, and the price has already increased for the commodity. However, according to market experts, it is expected to stay between being firm and stable, with no scope of being bearish in the next few weeks.

Current Scenario

The earlier prediction of summer sesame production from Gujarat was reported to be about 132 thousand tonnes. But according to the ground report, the final product can be down by 10 percent.

After the arrival of new crops has started flooding the market, there has been an increase in the demand of the local and other buyers for the product.

In the last three weeks, the demand from China can be witnessed, which will also help the market.

India also received the order to fulfill 12000 tons for Korea, and the market will now start purchasing the new product to meet the requirement.

Typically the arrival of sesame in Tanzania starts in May, but due to the weather issues, the arrival is late. So as of now, there is no report of Tanzanian sesame hitting the market. The situation Is the same for Mozambique sesame.

Both Tanzania and Mozambique fulfill the Chinese demand for sesame. However, since they are now failing to complete the request, China is looking toward India for sesame import.

There is also demand for the product from Iran. Also, another tender is to arrive from Korea for 12000 tonnes in June.

Future

All these factors indicate Indian sesame market is likely to stay stable and might even improve in the coming days. However, there is also a prediction that there can be a temporary slump in the price after June 20.

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