Egyptian Farmers’ Demand a 30% Higher Price for Sesame Seeds Due to Exchange Rate

Sesame seeds in Egypt are experiencing a significant increase in price at USD 1319.40/MT in W42 due to the devaluation of the Egyptian pound against the US dollar. Because of the uncertainty surrounding fertiliser, pesticide, and seed prices, which are mostly imported, farmers are demanding 30% higher prices than what the crop should be priced at. As a result, pack houses and exporters have increased their offer prices for sorted and cleaned products.