Sesame Seeds Market Update January 2022 Week 4
There have been quite a few developments in the sesame market that definitely warrant a second look. The situation begins in Nigeria, which is doing quite well with its European traders. Although the market price has decreased to about 2400 to 2500 USD pmt CFR, for now, Nigeria's doing well, and we expect to see an increase in hulled sesame prices too.
While there have been no official reports so far, it has been predicted that the 2021 crop from Nigeria was about 180,000 MT, of which 100,000 to 130,000 MT has already been traded. We've seen an increase in the price of natural sesame seeds by going to 30 to 50 USD/Mt this week. The reason behind this increase in price is that China is buying quite a bit of its sesame seeds stock from Nigeria since Port Sudan is not functional.
This is a shame because Sudan’s crop has been reported to be great at an estimated crop size of 40,000 MT. However, the main issue that's creating problems for the delivery of the crop is the country's political situation, which is disrupting delivery.
It is also causing issues for neighboring countries such as Ethiopia. It is not expected to end any time soon, so the country has no choice but to try and get its shipments out.
Updates from the Indian Market
India doesn't have many sesame seed stocks right now since it had a lousy winter crop for 2021. Importing organic sesame seeds in India is getting complicated. However, we will have to wait for the new yield expected to arrive between May and June to make the final judgement. Overall, at the moment, India has between 40,000 to 60,000 MT available, with the new Summer crop expected to be at around 150,000 MT.
The surprising winner in the sesame seeds industry is Mozambique, the only one to sell out its old crop. A new crop is expected to come out in June, with shipments expected in July. Like last year, the harvest is looking good, and Mozambique is expecting to see a crop size of 100,000 to 120,000 MT this year.
We will update you as the situation progresses.
