South Korea: Sesame Procurement Tender

06-Mar-2025 01:28 PM

South Korea: Sesame Procurement Tender  
★ South Korea has issued a tender for the procurement of 10,000 metric tons (mt) of standard-quality sesame seeds.  
- The quantity is divided into two lots, each consisting of 5,000 mt.  
- The first lot must arrive in Busan by April 11, 2025, and the second lot by May 9, 2025.  
- The tender date is set for March 4, 2025.  
★ Key exporting countries such as India, Nigeria, Sudan, Ethiopia, and Myanmar are expected to participate in this tender.  
★ India’s Performance in South Korean Tenders  
- India had a major share in South Korea's sesame tenders last year and recently secured 25% of a 12,000-mt tender.  
- South Korea's sesame imports increased by 26% in 2024, reaching 90,460 mt, compared to 71,595 mt in 2023.  
- The average import price dropped from $2,258 per mt in 2023 to $2,150 per mt in 2024.  
- China’s supply fell by 23%, whereas India’s supply grew by 23%, rising from 17,613 mt to 21,664 mt.  
- With lower sesame prices in Indian markets, higher exports are expected in the upcoming tender, which could support prices.