W14 Sesame Update: South Korea Released New Sesame Seed Tender, Increased Imports and Inventory in China

Published 2024년 4월 11일

In W14 in the sesame seed landscape, the AFFTC in South Korea will start a new tender to purchase 7.5 thousand mt of sesame seeds, with bids being evaluated on April 12 and the shipment required to arrive at Busan by June 28, 2024. In addition, China's sesame seed imports increased by 4.26% YoY to 184.13 thousand mt in the first two months of 2024, however, the import prices decreased by USD 14 to USD 41/mt. Lastly, Sesame seed inventory in China’s Huangdao Port increased by 31.84% MoM to 191.3 thousand mt and the wholesale prices are expected to remain stable in the short term.

New Sesame Tender in South Korea

The South Korea Agro-Fisheries Food Trade Cooperation (AFFTC) has announced that the latest tender for sesame seed shipments to South Korea will start in W15. The tender will purchase 7.5 thousand metric tons (mt) of sesame seeds, and interested parties may register for the tender beginning on April 11, 2024. The bid evaluation process will take place on April 12, and the shipment must arrive at Busan by June 28, 2024.

China's Sesame Imports Increased by 4.26% YoY With Niger as Top Sourcing Country

According to the General Administration of Customs of the People's Republic of China (GACC), China's sesame seed imports increased by 4.26% year-on-year (YoY) in the first two months of 2024.The total import volume was 184.13 thousand mt, and the primary source countries were Niger, Togo, Myanmar, Sudan, and Ethiopia. Among them, Niger's sesame seeds contributed 41.21% of the total imports, while Togo and Myanmar ranked second and third with 17.47% and 13.35% share respectively. However, the import prices decreased by USD 14 to 41 per metric ton (mt), leading some traders to reconsider their loading date and wait for further market developments.

Sesame Seed Inventory in Huangdao Port, Increased by 31.84% MoM

As of April 2, 2024, Sesame seed inventory in Huangdao Port, China, witnessed a 31.84% month-on-month (MoM) increase, reaching 191.3 thousand mt. However, taking a yearly comparison, the inventory decreased by 12.65% YoY compared to 163.6 thousand mt in the same period of last year. The wholesale prices are expected to remain stable in the next week.