Sesame imports increased in China and South Korea - prices weak in India
10-Jan-2025 04:22 PM
The article highlights recent trends in the global sesame market, focusing on India, China, South Korea, and other regions:
India's Sesame Market Struggles:
- India's sesame export prices have decreased by around 8%, dropping to $1880-$1920 per tonne. This decline is due to weak demand and increased competition, particularly from African countries.
- The difficulties for Indian sesame exporters have intensified because of heightened geopolitical tensions and competition from African exporters.
China's Sesame Import Surge:
- Sesame imports to China surged by 23% from 7.79 lakh tonnes in January-October 2023 to 9.59 lakh tonnes in the same period in 2024.
- While China's overall import prices for sesame slightly decreased, the country notably increased imports from African nations, including Niger, Nigeria, and Tanzania, while reducing its reliance on higher-priced sesame suppliers.
South Korea's Import Growth:
- South Korea saw a 20% increase in sesame imports, rising from 57,050 tonnes in 2023 to 68,536 tonnes in 2024.
- Despite an increase in volume, the average import price of sesame slightly declined.
US Imports:
- Sesame imports to the US slightly decreased by 1%, with a decline in Indian sesame shipments by about 3%. However, the US continued to rely heavily on India as a key supplier.
In conclusion, despite the rise in imports in China and South Korea, the weak demand in India, combined with growing competition from African exporters and global geopolitical tensions, suggests that Indian sesame prices are likely to remain soft in the near future.