Sesame Seeds: Unexpected Rains makes Market higher In India

Sesame Seeds Market Report:

Nigeria:

Exchange rate is stable. Market is stable. Yet there is not full swing material coming for the new crop. Heavy moisture cargo coming to market, traders and buyers are afraid to buy the cargo with high moisture. Prices should go down but due to high moisture cargo is coming there is not much turnaround. If arrival will be more market will go down if the arrival will be less than market will be stable and can go up depends on the market demand. At high level there is not much demand in the market. Total crop of Nigeria is more or less same and better than last year. There are many players this year in the market to buy the cargo and exports from 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 rain and better sowing this year which may leads to have more crops this year. There is good expectation of crop in coming days. There is less quantity old stock available in the local market.

Ethiopia: 

ECX Prices are more or less stable and there is less demand from china market. There is very good sowing for the new crop and also there is good rain in the growing area. People are expecting same quantity production in year 2017-18 as like last year. There are enough stock on the hand of exporters. People are expecting that before New crop arrival local market will go high once. Old crop stock is expected to have about 60000mt.

Sudan:

Exchange rate is stable. The prices are stable. There are enough stock available in the local market. There is good rain and good sowing but there is less crop than last year. New crop sowing is good and there is expected to have lesser crop this year than last year. Last year it was about 520,000 mt. and this year it is expected to have about 440,000 mt.

Somalia:

Local market is stable as there is not much stock available. There is only 10000mt. cargo has come in to the market for the season of August- September; people are expected that there will be good crop in February crop. Market is stable and not much movement.

Bangladesh:

Local market is stable. Market is stable as there is some demand for crushing in the local market as well as from China market. There is new crop arrived in the market but due to crushing quality demand in local. Market is stable and not going down.

Tanzania/Mozambique:

The season gets over and there is not much stock on the ground at both origins. No much business took place in the local market. China prefers to buy now from West African new crop rather than buying from Tanzania and Mozambique. Not much offering from origins. Market is stable and few people have stock on their hand.

Uganda:

New small crop arrival has started in September, which is about 10,000mt. Prices are stable. Exchange rate is stable. There are big difficulties to transport goods from bush areas to capital of city and further to the port for exports.

Indian:

Exchange rate is stable vs. Dollar.  Local market is up due to rain in some of the part of growing area. Sentiments make market to go up in India. It continues to go up since last few weeks. There is pending procurements of cargo from Korean tender awarded parties so they are in the market to procure their balance stock, due to that market is higher. As dollar prices of Indian sesame is higher than international prices, only demand for hulled sesame. There is less demand for Natural sesame Seeds.

Report on China:

Local market prices are stable. China market is stable and little down due to local crop arrival are more recently. Nigeria is offering lower prices than other origin which makes market stable.

Following reasons for sesame market to go up and down:

1. Local crop arrivals are more in the market.
2. Lower business took place and offers are there for the new crop at lower prices
3. Port arrival get more and have more stock at port
4. No sudden demand is expected for the next coming months.
5. There are not big arrivals at port in next three month to china’s main ports.

Personal Views:

According to personal views Indian Prices should be stable and little up for next couple of 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 will leads market to keep stable and to go down. Market will be from US$1000 to 1150 in between for Nigeria cargo