Sesame 4th Korean Tender Announcement - Result of Sesame Tender of Korea Agro-Fisheries & Food Trade Corporation

Successful Conclusion to 2024 Sesame TRQ Bid as WTO Unveils Results

Mintec Global
Spread the news!

The World Trade Organization (WTO) has successfully concluded the third bid for the 2024 Sesame Tariff Rate Quota (TRQ), with the announcement of results making waves in the commodity markets. The bid, which saw the state trade of a significant volume of sesame, has lived up to its anticipated competitive spirit.

Unicaps Sunflower seeds

Bid Details

Listing NumberBidding PeriodSuccessful Bid QuantityScheduled Arrival
AT2683-SI-24(934)January 22, 20246,000 tonsMarch 23, 2024 (Port of Busan)

Participant Overview:

Domestic AgentsRepresented Origins
Glesco Korea Co., Ltd.India
SaladinBurkina Faso

Successful Bid Prices:

ParticipantOriginSuccessful Bid Quantity (tons)Bid Price (USD/ton)
Glesco Korea Co., Ltd.India3002,049.90 (Lowest Bid)
SaladinBurkina Faso3002,142.00 (Highest Bid)

Market Impact

  • The results of the bid are expected to have a significant impact on the global sesame trade, with successful bidders positioned to strengthen their market presence. As the global demand for sesame continues to grow, the successful completion of this bid is a reassuring sign for market participants looking for reliable sources and market predictability.
  • The competitive bidding reflects global interest in sesame, with origins like India, Togo, Nigeria, and Burkina Faso participating.
  • Prices ranged from 2,049.90 to 2,142.00 USD/ton, highlighting the market’s valuation.
  • The WTO oversaw the bid to ensure fairness and stability in the sesame market.
  • With the sesame set to reach distributors later this year, the 2024 TRQ bid will likely be a reference point for future tenders in the commodity market.

Conclusion

  • The successful bid is expected to impact the global sesame trade positively.
  • The WTO expresses satisfaction with the bid’s transparency and adherence to fair trade principles.
  • The 2024 TRQ bid will likely be a reference point for future tenders in the commodity market.

For more information and details on future bids, stakeholders are encouraged to stay informed through official WTO channels and the aTBid E-Bidding platform.

Import/Export Statistics

Please click to reach our marketplace