Sesame prices rebound on strong demand

Following a surge in demand from foreign trade partners in the New Year period, the sesame prices returned to rise in the Mandalay market.
At present, various sesame seeds are exported to China. Also, demand from Japan, Thailand, Singapore, and Chinese Taipei is significantly rising. Furthermore, there is a steady demand from domestic oil millers and sesame-based food industries such as sesame jam and roasted sesame businesses. The sesame prices stood at K340,000 per 45-viss sack for black sesame (Samone variety), K330,000 for white sesame, K280,000 for brown sesame, K305,000 for red sesame and K290,000 for new yellow sesame on 4 December.
The prices surged to K365,000 per 45-viss sack for black sesame (Samone variety), K345,000 for white sesame, K285,000 for brown sesame, K305,000 for red sesame and K295,000 for new yellow sesame on 5 December.
The figures reflected an increase of K5,000-K25,000 per sack. Myanmar exports one of the oil crops sesame to the external market through maritime channels and border posts.
In April last year, 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, Trade Department under the Ministry of Commerce temporarily suspended exports of oil crops (peanut and sesame) from 9 May to have 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