W45: Sesame Seed
In W45 in the sesame seed landscape, as of November 09, 2023, Huangdao Port in China observed a sesame seed inventory of 154.10 thousand metric tons, marking a 25.79% month-on-month (MoM) and 23.67% year-on-year (YoY) increase. This surge is attributed to off-season demand and reduced import volume. Despite the growing inventory, traders were hesitant to decrease prices due to high sourcing costs. In W45, white sesame prices experienced a slight increase due to low supply, while prices for mixed and black seeds remained stable. With the conclusion of Pakistan's seed entry, it is forecasted that the upward trend in inventory will subside in the upcoming weeks.
The Association of Producers of Beans, Pulses, Special Grains, and Irrigators of Mato Grosso (APROFIR) and the Mato Grosso Institute of Beans, Pulses, Special Grains, and Irrigation (IMAFIR MT) of Brazil engaged in discussions at the China International Import Expo (CIIE) in Shanghai to explore new markets. During a meeting with the General Administration of Customs of the People's Republic of China (GACC) focused on phytosanitary agreements, the agenda included discussions on facilitating the trade of sesame seeds, sorghum, and rice from Mato Grosso. The collaboration aimed to increase exports to China and expand the range of products, with the meeting being deemed positive, featuring contributions from Governor Mauro Mendes. The governor highlighted Mato Grosso's agricultural potential and expressed interest in enhancing trade relations, particularly in sesame seeds and beans.
Lastly, severe drought conditions persist in Concepción, Chile, causing concerns among producers about the insufficient rainfall to sustain optimal crop conditions for harvest. Despite two recorded instances of rain in the region, the limited amount, not exceeding 50 millimeters, has only served to moisten the soil. This inadequate level of rainfall particularly affects crops like sesame seeds, as reported by farmers in cities such as Concepción, Loreto, and Belén. In Concepción, where agriculture and livestock are primary sources of income for small farmers, sesame, and beans are the main crops. As of W45, only crops with irrigation systems, which are not universally accessible due to cost constraints, have the potential to secure production amid this challenging scenario.
