Prices of black sesame seeds soar to K235,000 per bag

price of black sesame seeds bounced to K235,000 per three-basket bag in domestic market in recent days, according to the statistics released by Bayintnaung market.
The price rise is attributed to the Kyat weakening against US dollar and strong demand, said a dealer.
The prices of various sesame seeds moved in the range of K155,000 and 235,000 per bag.
Normally, Myanmar exports about 80 per cent of sesame production to foreign markets. Normally, Myanmar’s sesame is shipped to China, the Republic of Korea, Japan, Singapore, European Union countries and China Taipei (Taiwan).
The EU markets prefer organic-farming sesame seeds from Myanmar. Japan prefers Myanmar black sesame seeds, cultivated under good agricultural practices (GAP), and purchases them after a quality assessment.
The country is relying heavily on the Chinese market and facing a hurdle to place the sesame on other foreign countries at present. Both raw sesame seeds and valued-added sesame seeds are conveyed to China. When the transportation barriers triggered by the coronavirus are eased, the sesame market will raise its head again for sure, a depot owner from Bayintnaung wholesale market said.
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 cooking 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. About 600,000-800,000 tonnes of sesame seeds are yearly produced.—KK/GNLM