Sesame Seeds: Holiday in China Hold Demand

Sesame Seeds Market Report:

Nigeria:

Exchange rate is stable. Local market is up. Season has started, arrival are not coming as much as it should be. People are thinking that less crop and rumors are around that it is down by 20% but as per the survey and report says that the crop is good as compare to the last year and some places better than last year. International prices are up but about 10 to 15 US$. In last few days local market has jumped about 60 US$

Buyers are booking their order but they are also waiting for other origins crops to come in the market to book their full order. The materials will starts full fledge by 1^st week of October but yet it is not arriving. More players are coming to the local market to buy goods. If there will be demand continues after china new year then market can go higher further as people are talking in the local market. October shipment already started shipping out of Nigeria.

TOGO/MALI/Burkina:

Prices are stable in the local market. Exchange rate is also stable. New crop arrival will starts in November mid-December. There is good crop expected this year. There is less quantity old stock available in the local market.

Ethiopia: 

ECX Prices are higher. There is small demand from china market as prices are higher side. More than 1200$ people are not buying from china. New crop is expected to be good in coming days as there is good rain in growing area. There are enough stock on the hand of exporters up to new season starts. People are expecting that before new crop arrival local market will go higher. Old crop stock is expected to have about 45000mt.

Sudan:

Exchange rate is unstable. The prices are unstable due to exchange rate. There is news that USA will lift the sanction on SUDAN and its effect on exchange rate. If this sanction will be lifted on north Sudan then it will play a major role in international market. The stock is lying with the traders. There is good rain and good sowing but there is lesser crop then last year.

Somalia:

Local market is stable as there is not much stock available. People are expected that there will be good crop in February crop. Market is stable and not much movement in the market.

Bangladesh:

Local market is stable. China demands is there but due to holiday in china all are expecting good demand after New Year holiday in china. There is new crop arrived in the market. Market is stable and not going down due to demand from local market as well as china.

Tanzania/Mozambique:

There is not much stock left at the origin. China buyers and other buyers not willing to buy left cargo as they are thinking that quality will be a problem. This year over all quality and quantity was not good from Tanzania and Mozambique. Market is stable and few people have stock on their hand who has already sold forward.

Uganda:

New crop Prices are stable and not much movements. Exchange rate is stable. There are some business took place for the shipment of November and December for the new crop arrival at the stable prices.

Indian:

Exchange rate is good and favorable for exports. Dollar get stronger and local currency get weaker, gives benefit to exporter.  Local market is stable and down due to no demand from international market. The market sentiments are down due to good weather as and new arrival started in the market slowly. Stockiest are selling their existing cargo and en-cash to get new cargo.

Report on China:

Local market prices are stable and little up. China has holidays from 1^st to 8^th Due to autumn festival and National Day.

Following reasons for sesame market to go up:

1. Port arrival reduced at port
2. No sudden demand is expected for the next coming months.
3. There will not be more arrivals up to December.
4. There is less stock in pipelines and also with local manufacturers
5. Local prices and imported prices gap will increase leads market to do up.

Following reasons for sesame market to go Down:

1. Local crop arrivals can affect the market prices
2. There are not big arrivals at port in next three month to china’s main ports.
3. Less business took place and more offers for new crop at stable prices
4. There will be holidays of New Year, so there will not be demand for at least 10 days from now.
5. Prices are going up at Origins

Personal Views:

According to personal views Indian Prices should be stable and down for next weeks. Nigerian prices should be stable and little up as per demand from china and other market. Next 15 days, more presser will come to the market at Nigeria and other origins will leads market to keep stable and to go down. Market will be from US$1020 to 1140 in between for Nigeria cargo.