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.
Bid Details
Listing Number | Bidding Period | Successful Bid Quantity | Scheduled Arrival |
---|---|---|---|
AT2683-SI-24(934) | January 22, 2024 | 6,000 tons | March 23, 2024 (Port of Busan) |
Participant Overview:
Domestic Agents | Represented Origins |
---|---|
Glesco Korea Co., Ltd. | India |
Saladin | Burkina Faso |
Successful Bid Prices:
Participant | Origin | Successful Bid Quantity (tons) | Bid Price (USD/ton) |
---|---|---|---|
Glesco Korea Co., Ltd. | India | 300 | 2,049.90 (Lowest Bid) |
Saladin | Burkina Faso | 300 | 2,142.00 (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.
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