Sesame: Less demand from China makes market stable
August 10, 2017 at 7:36 AM ,
Rainbow Exports
Sesame Seeds Market Report:
Nigeria
Exchange rate is stable. There is not much stock available in the local market. Old stock is finished, very low quantity left only with the exporters and big traders. Since last one week there is demand from China market. Due to demand, International prices has increased a lot. Prices offered today are not acceptable by the buyers in china so market has started getting corrected and have a lower sentiment. Few people have started offering for October shipment for new crop which is about US$1120 cnf which means that market will stable at this level and may go down little. Harvesting will takes place end of this month and goods will start coming to market in next month.
TOGO/MALI/Burkina:
Prices are stable today as higher prices no demand. Today, prices in dollar are higher side but there is no demand and market is stable. Exchange rate is stable. Market is going to be stable in this week. Since yesterday market has stop little and no demand.
Ethiopia:
ECX Prices has gone up and there are much strong sentiments. Ethiopia is offering 1200 to 1240 for humera cargo fob but according to the market in china local market prices are higher by US$50 per mt. so china buyers doesn’t want to take risk. Prices is stable today and not much movement in the market.
Sudan:
Exchange is stable. Sudan offered prices are stable and little down today. If offered prices will not be acceptable by china then market will go little down and lower side.
Somalia:
Local market is stable. Higher prices there are less trade. Demand has stop at higher prices.
Bangladesh:
Local market is stable. Suddenly demand and local china market has stopped buying. China local market is stable and little down due to that there is less demand from china. Market gets stable.
Tanzania/Mozambique:
Market is stable. China buyers are asking for the prices but they do not want to buy at higher prices. China demands for Tanzanian cargo continues but not at higher prices but at lower prices.
Indian:
Exchange rate is stable vs. Dollar. Local market is down little. As compare to other international prices, Indian Sesame Prices are on the higher side so there is not much demand for Natural sesame Seeds. Prices for natural Sesame is down side. For Hulled Sesame Seeds, there is demand which makes market stable and little down.
Report on China:
International prices have gone up so much higher side and local market is table yesterday and today. Sudden increase of offered prices makes market difference lower and which shows higher risk to import at higher prices by china buyers. China local crop prices are stable since last two days which breaks the local demand and overall demand.
According to the view of the importers, analysis the reasons for sesame market to stop going up:
- Local crop prices stop increasing.
- International Prices become so much higher than at local port prices. They think to buy locally rather than importing.
- There are less selling down from port since last two days, makes break to market.
- New offers have started floating in the market from Nigeria at lower than current market prices by speculators.
Personal Views:
According to personal views Indian Prices should be stable. International prices will also move up and stable. If Nigerian shippers speculate the market and starts offering lower prices than current international prices than market will be stable and can go down, if all other factors remain same.
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