GUJARAT – Sesame seed farmers and traders can now breathe a sigh of relief as the overseas market’s demand for the seed is growing. As a result, according to the seed traders, in the coming months, there will be a significant rise in the price of sesame seeds, both natural and hulled.
The sesame seed market started improving from July 5 onwards as the foreign markets opened up post-Covid lockdowns. Also, as the trading issues are resolved with European Union, the demand for sesame seeds is rising fast.
A significant change was witnessed three or four days back when 28,000 to 30,000 bags of sesame arrived in Gujarat mandi, and already 10,000 bags have been sold.
Though the price rise has not been that drastic against the lower supply, initially, sesame seed, the white natural 99/1/1, was sold at USD 1.224 /mt and stayed that way until July 7. But it rose from July 1, which was USD 1.185 /mt. According to the traders, it will continue to grow as new tenders for sesame seeds are announced from Korea. The market already witnessed a hike in sesame seed price as the sesame trading market increased by USD 40 /mt within a week.