W6 Sesame Update: Anticipated Decrease in Black Sesame Prices Amid Subdued Demand and Increased Sowing, and Impact of South Korean Tender Uncertainties on African Countries and Exporters

Declining Prices and Impact of Global Events on the Sesame Market

Global prices for white and turmeric sesame shorts have significantly declined in recent months. In W6, white sesame is priced between USD 2.25 and USD 2.27 per kilogram (kg). Meanwhile, the price of turmeric sesame stood at USD 2.63/kg, but it also experienced a decline during the same period. However, further decreases are unlikely due to high import parity and limited domestic production until Apr-24. Global events such as internal unrest in Sudan and terrorist attacks in Yemen have disrupted steamer traffic, thus affecting the sesame market.

Additionally, domestic factors like delayed cold weather and an attack by the Wamani terrorist group in the Red Sea have further impacted the market. With subdued domestic demand and increased sowing, black sesame prices are expected to decrease. Exporters must stay vigilant as the market navigates these complexities, with the potential for a slight increase in white sesame and turmeric sesame prices on the horizon. Nevertheless, uncertainties persist, particularly regarding the South Korean tender and its potential impact on African countries.

Impact of Korean Sesame Tender on Local Prices in India

The upcoming sesame tender scheduled for Feb-24 in Korea has impacted the local peanut market in India, resulting in price hikes and heightened volatility. This situation suggests exercising caution when offering Indian-origin peanuts.