Current Scenario
The domestic market in white sesame is sluggish but hopeful as domestic traders and exporters are waiting for the results of Korean Tender. Leading brokers say that the ups and downs in sesame have stopped, and the market is witnessing stability. Local demand has stalled for now, as buyers might get active once the tender is declared.
In the previous year 2021, India got four major Sesame tenders in following months:
May
- The Korean sesame tender of 12.000 MT was declared in May 2021, out of which India got 11.400 MT of the tender in three phases.
August
- In August 2021, It was in three parts. P1 and P2 contain 2.700 MT volumes each, and P3 contains 3600 MT volumes. It was finally revealed that India won the maximum amount with 5.400 MT.
October
- In October 2021, another Sesame Tender was declared 3000MT, out of which India got highest with 1800 MT.
December
- The latest Sesame Korean Tender was declared in Dec 2021 for 6600 MT quantity, which was allotted in two parts, and India had received it with a significant portion of 4.800 MT.
The most significant portion of tenders was given to India in all the above tenders. According to the analyst, India might also get a substantial amount of Korean tender, which is falling in the next week.
Factors Affecting the Market.
Currently, domestic demand is not so high. Stockists and Brokers are waiting for the Korean Tender to be announced in the coming days, and this is the factor contributing to the stillness in the Sesame market.
Prediction
There is much excitement among stockists, traders, and investors regarding the forthcoming tender. If India gets a significant share of Korean tender, it will support the prices and hopefully not let the market go down. Given the international situation and the possibility of India getting a large order in the Korean tender, those who have stock are holding back from selling, as stockists can benefit if the Korean tender picks up. Plus, there is a chance that the market will increase from these price levels, as international demand can increase.
Price
- Regular Black 99.90% stands at $2,23
- White Natural Sortex 99.95% stands at $1,65