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.
The following reports may be of interest to you: