Strong foreign demand elevates sesame seed price

The sesame seed prices are moving up in the Mandalay market on the back of strong foreign demand.
The prices stood at K340,000 per 45-viss bag of black sesame (Samone variety), K365,000-370,000 per bag of white sesame, K280,000 per bag of brown sesame, K310,000 for red sesame and K200,000 for Niger seed on 1 October. The prices increased to K365,000 for black sesame, K385,000-390,000 for white sesame, K290,000 for brown sesame and K320,000 for red sesame, showing an increase of K10,000-25,000 per bag. Niger seed price remained unchanged.
At present, newly harvested sesame from the central areas of Myanmar is flowing into the market. Chinese buyers are steadily purchasing Japanese white sesame and black sesame (Samone). Consequently, the prices rose slightly.
Myanmar’s sesame seeds are also exported to China through land borders. In April 2022, the world’s top palm oil exporter Indonesia, which is one of the main oil suppliers to Myanmar, declared an export ban on cooking oil export to reduce domestic shortage. Consequently, Myanmar’s Trade Department under the Ministry of Commerce temporarily suspended exports of oil crops (peanut and sesame) from 9 May to ensure oil self-sufficiency
Exports of Myanmar’s edible oil crops resumed as the world’s top palm oil exporters returned to normalcy, according to a notification dated 5 July 2022 released by the Trade Department. — NN/EM