Sesame prices skyrocketing due to low yield, Kyat depreciation

September 8


The prices of sesame seeds are edging up in the domestic market on account of the low yield and Kyat depreciation against foreign currencies in the local forex market, the traders said.


The price of black sesame seeds hit over K200,000 per 45-viss bag in early 2022, while it was priced at approximately K255,000-K320,000 per bag on 7 September. The prices were K315,000-320,000 per bag of white sesame, K350,000-360,000 per bag of Japanese sesame and K240,000-250,000 per bag of brown sesame.


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. The local millers are also increasingly purchasing them, scaling the stocks down, 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 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. Approximately 600,000-800,000 tonnes of sesame seeds are produced yearly. — KK/GNLM