International Highlights

China: Qingdao port stock as of July 22, 2024, stands at 174,500 MT, showing a decrease from the previous week. This reduction indicates a stable but slightly tightening supply.

Pakistan: The anticipated sesame crop size in Pakistan ranges between 300,000 and 350,000 MT. Harvesting has commenced in Punjab but remains in small quantities insufficient for immediate export. The full-scale harvest is expected next month. No rain has affected the crop so far, which is a positive sign compared to last year’s adverse conditions.

Somalia: Somalia's sesame crop size varies significantly, ranging from 60,000 to 120,000 MT, depending on weather conditions. Limited technology and infrastructure pose challenges, but the soil is versatile with the potential for higher yields with better resources. Somalia's main crop cycles are from February to March and September to November, with the sowing of the second crop currently underway. Most of Somalia's sesame crop is exported to European and Middle Eastern countries, with a small portion used locally for sesame oil production.

Brazil: Brazil's sesame crop is projected to reach about 200,000 MT this year, with major exports directed to India, Vietnam, and Türkiye. Approximately 70-80% of the crop has been harvested, showing better progress than last year's 60% at the same time. Initial exports were priced at $1.50 per kg, but current prices have declined to $1,35-$1,37 per kg. Indian importers have secured significant business deals, with shipments scheduled for July, August, and September.

Tanzania: As of July 22, 2024, Tanzania's warehouse deposit summary shows a total weight of 106,150 MT of sesame seeds. The highest auctioned weight is in Lindi at 38,939 MT. From July 16-21, high and low prices for sesame seeds ranged from $1,09 to $1,34 per kg across various regions. Despite challenges in agriculture due to limited technology and infrastructure, Tanzania's versatile soil offers potential for higher yields with better resources.

Current offers for Togo white sesame range between $1,83 and $1,90 per kg, while Sudan's Gadarif sesame is priced between $1,89 and $1,93 per kg. Nigerian mixed sesame is trading at $1,68 to $1,73 per kg.

Indian Market Update

Gujarat: Out of a total summer crop size of 100,000 MT, around 80,000 MT have arrived in the market. Traders are expected to hold their stock and release it gradually, leading to a potential decrease in the arrival of sesame seeds soon. Prices in the Indian sesame market are stable, with Natural Sesame Sortex priced at around $1.68 per kg. In Rajkot, around 250 bags of black sesame seeds arrive daily, totaling about 400 bags throughout Gujarat daily. Prices of black sesame range from $1,80 to $1,90 per kg.

Tamil Nadu: The Indian sesame market sees no major movement, and prices remain stable. The export demand for Indian Hulled sesame is currently low, with no significant exports due to higher freight rates.

Madhya Pradesh: The overall sesame crop is performing well, with stable prices and regular arrivals in the market. There have been no significant changes in the market dynamics compared to the previous week.