Despite the month starting on a poor note for the sesame seed market, it is now gaining momentum back at a steady pace. Traders believe that several factors are helping in improving the price of the sesame seed in the mandis.
This month White Natural Sortex 99.95% opened at FOB $1,20 per kg ton and then reached FOB $1,25 per kg before plunging to FOB $1,25 per kg. However, from the middle of the week, the seed price rose and reached FOB $1,25 per kg. It stayed at that rate until July 28, before spiking to FOB $1,32 per kg.
The same was the case for White Hulled Sesame Seeds Auto Dry 99.98%, for which the month started at FOB $1,51 per kg and has gradually built up to reach FOB $1,67 per kg on July 28. White Hulled Sesame Auto Dry 99.97% reached FOB $1,62 per kg yesterday after starting the month at FOB $1,45 per kg. Similarly, White Hulled Sesame Seeds Auto Dry 99.95% was sold for FOB $1,61 per kg on July 29 from FOB $1,44 per metric ton on July 1.
These figures indicate a steady and significant improvement in the price of all varieties of sesame seeds.
According to traders, several factors have caused the northward movement in the price of sesame seeds:
- There is less arrival of bags in the mandi, but the demand for it is more. One of the reasons for less arrival of the bags is the heavy rain.
- Compared to last year, there is 40% less production of sesame seeds.
- There is a good demand in the retail and domestic market owing to the festival season coming up in a month. Hence stockists are also buying the products to stock them for the coming month.
- There is also a steady export demand for Indian sesame seeds.
All these factors are going to improve the price of sesame seeds in the coming weeks.
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