Sesame prices up by K20,000 in three weeks

Chinese buyers eye newly harvested black sesame seeds (Samone variety) due to high quality, and the high demand raised the price to K160,000 per 45-viss bag, which shows a significant increase of K20,000 per bag in three weeks, according to Mandalay wholesale market.
In early June, the black sesame seeds (Samone variety) fetched only K130,000-143,000 per bag, whereas it sharply rose to K160,000 per bag on 21 June.
The acidic rainfall can damage yield and crops. At present, the growers are supplying acid-free sesame seeds owing to the favourable weather before the harvest time. They are highly demanded by China. Good weather led to a high yield as well. Chinese traders are buying them as much as possible for now, said a trader from Mandalay stated.
Normally, Myanmar exports about 80 per cent of sesame production to foreign markets. China is the main buyer of Myanmar sesame, which is also shipped to markets in Japan, South Korea, China (Taipei), the UK, Germany, the Netherlands, Greece, and Poland among the EU countries.
The EU markets prefer organic-farming sesame seeds from Myanmar, said an official from the Myanmar Trade Promotion Organization.
Japan prefers Myanmar black sesame seeds, cultivated under good agricultural practices (GAP), and purchases them after a quality assessment. This year, Japan has not purchased Myanmar’s sesame yet. 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.
Myanmar’s sesame seeds export has earned US$284.47 million in H1 (October-March) of the current financial year2020-2021, according to data released by Myanmar Customs Department.
The volume of sesame exports was registered at over 96,000 metric tonnes, worth $130 million, in the 2015-2016FY; $100,000 tonnes, worth $145 million, in the 2016-2017FY; 120,000 tonnes, worth $147 million, in the 2017-2018FY; 33,900 tonnes valued $43.8 million in the 2018 mini-budget period, 125,800 tonnes, worth $212.5 million in the 2018-2019FY and over 150,000 tonnes of sesame, worth $240 million in the previous 2019-2020FY, the trade data of Central Statistical Organization indicated. — KK/GNLM