On April 26, 2022, the Korean tender for sesame seed was announced. India has outbid every other country for all three tenders and has become the sole supplier for the commodity. The total quantity of the bid was 12,000 tonnes.
For the 2022 TRQ Sesame State Trade 5th bid, Part 1, Korea’s quantity purchasing from India is 3,000 tonnes. The product is required to reach the country by June 30, 2022. Seven export companies from India were able to bid successfully, with Ascentico, CS MRO, and Seongil Distribution leading the way with 600 tons of bids each. The bidding price for the sesame seeds by these companies was $1,644.00 per ton, $1,655.00 per ton, and $1,664.44 per ton, respectively. Other companies that bid successfully for the commodity were New world agriculture Co., Ltd., Saltrance Co, ltd., Fairbridge Commodities, and International Trade for 300 tonnes each.
The other bid, Part 2 of TRO State Trade 5th, requires the commodity to reach Korea by July 22, 2022. The bidding was for 4,500 tonnes of a sesame seed, whereas AgriSoruce Korea from India successfully bid for 900 tonnes at $1,581.00 per ton. Saltrance Co, ltd, Best Blood, Ascentico, and Indiagro Co.Ltd. bid for 600 tonnes each and succeeded in securing it. The rest of the companies, i.e., Fairbridge, Commodities, New Agricultural Co. Ltd., Naam Traders, and Infinite Farming, bid for 300 tonnes each and secured the export order.
For TRO State Trade 5H P3, the third bid was for 4,500 tonnes. The companies that secured the most quantity for export were Agri Source Korea and Saladin at 900 tonnes each. AgriSoruce Trade outbid the others at $1621.00 per ton, while Saladin received the consignment after successfully quoting $1,644.00 per ton. The other companies exporting the res to the commodity by August 19, 2022, are Naam Trade, Fairbridge Commodities, Best Pick, Saltrance Co., Ltd., JS Agro, and CS MRO.
For this three-part tender, the company that got the most export order was AgriSource Korea with 1,800 tonnes, followed by Fairbridge Commodities with 1,500 tonnes, and Slatrance Co., Ltd., Ascentico, and CS MRO with 1,200 tonnes, each.
Here is the list of the companies and the quantity they need to export to Korea.
- New world agriculture – 300 + 300 = 600
- Saltrance co, ltd – 300 +300 +600 =1200
- Fairbridge commodities -300 +600 +600 =1,500
- Ascentico – 600 + 600 =1,200
- CS MRO – 600 +600 = 1,200
- International trade 300
- Seongil distribution – 600
- Naam trade – 300 +300 =600
- Best pick 600
- AgriSource Korea 900 +900 = 1,800
- JS Agro 300
- Saladin 900
- Best blood 600
- Infinite farming 300
- Indiagro Co. Ltd 600
The release of the Korean tender is likely to increase the activity in the market. As a result, it is expected to improve the commodity’s price in the coming days. However, one concern is there among the traders and exporters, i.e., the consignments getting rejected after detecting the pesticides in the product. Therefore, Korea has upped its regulations on pesticides in sesame seeds that they import.
It now remains to be seen how the future trade fairs will be based on these tenders.