International Highlights
China: As of June 31, 2024, the Qingdao port in China holds approximately 227,212 metric tons (MT) of sesame, down from 228,900 MT on June 21, 2024. This minor decrease suggests stable supply with a slight reduction in stock levels over the past month.
Japan: From January to May 2024, Japan imported 66,866 MT of sesame seeds at an average price of $1,95 per kilogram (kg), a 16% decrease in quantity from 79,299 MT during the same period in 2023. This decline indicates a reduction in demand or adjustments in trade agreements. Nigeria remained the largest exporter, followed by Mozambique and Burkina Faso.
South Korea: South Korea’s sesame imports increased significantly from January to April 2024, totaling 18,380 MT with an average import value of $2,31 kg. This represents a 97% increase compared to the same period last year, reflecting higher demand. The main exporters were Nigeria, China, and India.
Tanzania: In Tanzania, the second auction via the Tanzania Mercantile Exchange (TMX) saw farmers from Kilwa, Mtama, and Lindi regions sell a total of 4,405 MT of sesame. Prices ranged from $1,62 to $1,66 per kg, indicating stable market conditions compared to the previous report.
Global Shipping Challenges And Other Insights
Brazil: The 2024 sesame crop season in Brazil faces significant shipping market challenges, similar to the previous month. Freight rates are rising on routes from Brazil to China and India, with costs to the Middle East exceeding $2,000. Current shipping costs from Brazil to India are around $1,500, expected to rise to $2,000. However, routes to Türkiye and Europe remain more stable, offering some respite.
Türkiye’s Import Trends: Türkiye imported 94,182 MT of sesame seeds from January to May 2024 at an average price of $2.13 per kg. This represents an 8% decrease in quantity. But a 6% increase in value compared to the same period in 2023, indicating a rise in prices.
Japan’s Sesame Oil Exports: From January to May 2024, Japan exported 4,238 MT of sesame oil, valued at $31.5 million. This is a 13% increase in quantity and an 18% increase in value compared to the same period in 2023. The main importers were the USA, Canada, Hong Kong, and Singapore.
Indian Market Update
Gujarat: The summer sesame crop harvest in Gujarat is nearly complete, with 80,000 to 85,000 MT of sesame arriving in the market, a reduction from previous daily arrivals of 40,000 to 60,000 bags (60 kg each). Current market prices for white sortex sesame range between $1,62 to $1,68 per kg, while black sesame is priced between $1,76 to $1,92 per kg. These prices have remained stable compared to the previous report.
Tamil Nadu: In Tamil Nadu, daily arrivals of Rabi season sesame vary from 700 to 800 bags (60 kg each) across various regions. Black sesame prices range from $1,36 to $1,56 per kg, and red sesame is priced between $1,54 to $1,62 per kg, showing consistent pricing trends.
Madhya Pradesh: In Mandsaur and Neemuch, approximately 12,000 to 15,000 bags of summer sesame arrive weekly. Local good quality sesame is traded at prices ranging from $1,50 to $1,54 per kg, medium quality at $1,46 to $1,50 per kg, and average quality at $1,43 to $1,45 per kg, reflecting stable pricing from the previous report.