November 9
THE price of sesame seeds is expected to be in the bull market as the stockpile drop will continue until the coming harvest time of the winter sesame, the market observers stated.
The COVID-19 prevention measures hinder exports. The flat price occurred in May. The price has regained since the second week of October.
Furthermore, the farmers in the monsoon sesame growing regions chose other crops over sesame and the yield dropped sharply compared to the previous years’ rate. The price climbs up at present on the short of supply in the market.
At present, the price stands at K2,300 for brown sesame, K2,500 for cold season sesame and K3,500-3,600 for black sesame.
Normally, Myanmar’s sesame is shipped to China, the Republic of Korea, Japan, Singapore and China Taipei (Taiwan). At present, the country is relying solely on the Chinese market and facing a hurdle to place the sesame on other foreign countries.
Myanmar conveyed the sesame seeds to China through maritime trade despite the closure of the border posts between Myanmar and China. Thanks to Kyat depreciation in the local forex market, the sesame price is rising.
The cold season sesame season is coming shortly. The price of input cost is on the rise regardless of the slip in the foreign exchange rate. As a result of this, the growers will experience a high input cost in the coming season.
The domestic consumption of sesame is significantly less than the export volume. This being so, the price of sesame price is positively related to the foreign exchange rate.
The market lacks quality sesame seeds with oxidative stability. Thus, the price will stay on the high side until the fresh sesame enters the market, as per the market data. — NN/GNLM
