W15 Sesame Update: Prices in W15 for April and May Shipments, Latest 2024 Sesame WTO Tariff Rate Quota (TRQ) Bidding Results, Conflict Economy in Sudan and Ethiopia

Published 2024년 4월 19일

In W15 in the sesame seed landscape, the global sesame seed market is experiencing pricing fluctuations due to economic trends and regional developments. In particular, Chad adjusted its price downward, while Sudan and Burkina Faso increased their prices. In addition, the WTO completed the TRF bidding process for 7.5 thousand units of sesame seeds on April 11, 2024. Major trading entities participated in the process, and the winners were announced. Lastly, the sesame trade has become a key motivation for conflict participants in Ethiopia and Sudan, leading to political instability, violence, and worsening inequalities.

Dynamics of Global Sesame Seed Market: Pricing for Apr-24 and May-24 Shipments in W15

The global sesame seed market faces ongoing pricing fluctuations in W15, which reflect broader economic trends and regional developments. For Apr-24 and May-24 shipments, Pakistan is offering Hybrid/Sindh sesame seeds at a cost net freight (CNF) price of USD 1,700 to USD 1,720 per metric ton (mt) in W15, while Nigeria's Lafia sesame was priced at CNF USD 1,750 to 1,780/mt. Brazil's Whitish Sesame maintains its price range within W15 at USD 1,780 to 1,790/mt, whereas Chad adjusts its whitish sesame price range downward to USD 1,750 to 1,800/mt. Sudan's Gedaref Sesame Premium quality saw a decrease in price to USD 1,750 to 1,800/mt in W15, reflecting global demand shifts. Lastly, Burkina Faso witnessed an increase in price for whitish and mixed sesame by USD 70 to 80/mt to USD 1,920 to 1,940/mt in W15.

2024 Sesame WTO TRQ Bidding Completed on Apr 11, 2024

On April 11, 2024, the completion of the World Trade Organization (WTO) Tariff Rate Quota (TRQ) bidding process for 7.5 thousand units of sesame seeds marked a pivotal moment in the market. Major trading entities seized the opportunity, making significant moves during the distribution process. The winners for this bidding are KLESKO KOREA CO.LTD (600 units), CS MRO (900 units), Daeyang Industry (600 units), Nongshim (600 units), Farm Hannong (600 units), Namhae Chemical (600 units), Nice Farm (900 units), Indigo Group (600 units), and Kukobiz Jimchulso (300 units).

Sesame Trade Became Component of Conflict in Ethiopia and Sudan

Once a crucial source of income for farmers in Ethiopia and Sudan, the sesame trade has now become a significant component of the conflict economy in the region. The ongoing civil war and territorial disputes have fuelled violence and political instability, and controlling the sesame trade has become a key motivation for conflict participants. As a result, local agricultural markets have changed, and the people residing in the border regions face worsening inequalities. If not addressed, these shifts can further intensify the conflict and exacerbate the situation for the affected communities..