Various sesame prices slid tracking sluggish market

October 24, 2022

The prices of various sesame seeds significantly moved down in the third week of October as the market is slow-moving, said traders.

The price of black sesame seeds hit over K235,000-280,000 per 45-viss bag in the third week of October 2022, while it was priced approximately K255,000-K320,000 per bag on 7 September, indicating a decrease of about K40,000 per bag.

In the third week of October 2022, the black sesame fetched K3,946,513 per tonne, which declined from K4,354,773 per tonne in the second week, showing a decrease of K408,260 per tonne. Similarly, the prices of white and brown sesame also dropped in the third week of October respectively.

The slide in the Kyat-dollar exchange rate in the third week is also another reason for the price decrease.

Those sesame seeds which pass the acid test level are primarily traded. It is hard to maintain sesame quality in the monsoon season, the growers from Sagaing Region said.

Additionally, after Myanmar’s export ban on oil crops reversed, the prices of peanut and sesame prices inflated in the mid-year, according to the commodity depots.

Myanmar’s sesame was earlier exported to China, South Korea, Japan, Singapore and China Taipei (Taiwan). However, it is now relying solely on China and the shipments to other foreign countries have certain difficulties.

Sesame is cultivated in the country throughout the year. Magway Region, which has gained a reputation as the oil pot of Myanmar, is the main producer of sesame seeds. The seeds are also grown in Mandalay and Sagaing regions.

Of the oil crops grown in Myanmar, the acreage under sesame seed is the highest, accounting for 51.3 per cent of the overall oil crop plantation. Approximately 600,000-800,000 tonnes of sesame seeds are produced yearly.—KK/GNLM