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Sesame seeds: India plunges into chaos

November 15, 2016 at 9:04 AM , Der AUDITOR
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NEW DELHI. The conversion of notes in India has caused a greater chaos on the market than previously expected.

Indians are able to withdraw only 4,000 rupees per day, at the most, from their bank accounts, which amounts to not even 55 euros. That poses quite a problem for the raw materials trade, since not every farmer accepts cheques as payment. They need cash themselves to pay their workers, as well as to pay for the new crops’ seed.  

 

sesame prices India

type

USD/mt

hulled, 99.95%

1,270

natural

1,200

CIF Hamburg

 

Strong differences
Due to the uncertainty on the market, the traders’ individual offers differ greatly. Hulled sesame, 99.95%, is dealt at a level of 1,270-1,350 USD/mt CIF Hamburg. Sesame exporters explain the lower prices with the fact that farmers are lowering raw sesame prices in order to sell, in spite of the scarce cash situation. Additionally, the current scenario does not help to improve competitiveness towards African sesame seed suppliers. Other agricultural commodities are also affected by the development. It will still take a few days until things return to normal.  

Attached Files

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sesame seeds, hulled, mech. dried 3.045-0.9

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