The domestic demand for white sesame in India is fulfilled; thus, there is no possibility of a massive boom in the primary commodity. The local demand for white sesame is fulfilled every year in the first week of January, but in the current year, due to the advance of the cold, there was local demand till the first week of February.
Rains dissolved white sesame crops
Most of the white sesame crops dissolved due to the rains of the last phase in India. There is currently no supply of White Sesame from Uttar Pradesh, Madhya Pradesh, Rajasthan, and Gujarat as the Kharif crop was significantly less, and the Kharif crop is almost completed. Similarly, in Africa, sesame production has decreased by 20% due to a rise in sesame in the global market. The price of African sesame was $ 1450 per ton, which increased to $1950 per ton.
Further, Korea announced the tender of sesame on 8th February, divided into two parts. Part one consists of 4500 MT, and part two consists of 6000 MT. The last date to participate in the tender is 23rd February.
Recession in white sesame?
There is no possibility of a recession in white sesame due to China’s market opening and petite African crops. Further, there is no possibility of a boom due to the fulfilment of domestic demand; therefore, the price of white sesame will increase in the next three months.
25,000 tonnes of white sesame crop will be expected to arrive on the market. As the Korean tender is announced, there is an increase in sesame prices in the international market, and experts predict that domestic prices will also increase. Although the possibility of India getting an order in Korea’s tender is significantly less, because at present, according to the local price, India will not be able to fill the tender below $2200 to $2300 per ton. Thus to take things to an end, experts predict that there may be fluctuations in the sesame market for the next three months.
The sesame seeds natural 99.95% sortex prices were recorded at $2,09 per kg FOB.