Due to the strong demand from China, those who have purchased and stored black sesame are getting good prices, U Kyaw Htun, vice chairman of the Magway Commodity Exchange, said.
At this time last year, a basket of black sesame in the Magway sesame market was only around 180,000 kyats, but this year, a basket of black sesame is fetching more than 230,000 kyats due to the demand from China, he said.
A basket of white sesame is also only 125,000 kyats currently. Traders in Magway mainly deliver sesame to the Mandalay market and then it is exported to China via Mandalay.
In Magway Region, sesame is grown in three seasons: beginning of the rainy season, late rainy season, and irrigation season, and the largest yield of sesame is in the beginning of the rainy season. Sesame traders also estimate that the price for a basket of black sesame could rise to 250,000 kyats due to strong demand from China.
