Sesame Seeds: Disparity makes market stable & Down

Sesame Seeds Market Report:

Nigeria

Exchange rate is stable. New Crop offer has started from Nigeria for October November shipments US$1120 per mt. for Whitesh cargo and US$1090 for Mix cargo (crushing quality) Old stock is finished almost. Since last one week there were demands from China market at lower prices but prices of Nigeria is not meeting with expectation of China demanded prices. So market got stable. There is no demand at higher prices. Market has come down today about US$20 to 30 per mt. due to no demand at higher prices. The forward offering has started slowly when it will be done full-fledged then market will go further down. New crop arrival will starts in the month of September first half.

TOGO/MALI/Burkina:

Prices are little upside and stable in the local market. Today, prices in dollar stable. There is no demand at higher prices from china. Chines buyer think that there will be risk at higher level imports. They are asking for lower prices and not responding at higher prices. There is no demand at higher prices from other market also. Exchange rate is stable. Buyers are not able to get the cargo at lower prices due to end of the season

Ethiopia: 

ECEX Prices are down little. There were much strong sentiments but market becomes stable and down little. Ethiopia is offering US$1200 to 1240 for humera cargo fob but chines buyer were not accepting the prices and have not made much business at this level. People are reluctant to buy at higher prices. Due to this reason market has come down about US$20 to 30 in last two days. China buyers do not want to take risk at higher prices imports. Prices are stable today and not much movement in the market.

Sudan:

Exchange is stable. Sudan offered prices are up little. Offered prices are not acceptable by china. It will depend on arrival of new crop and market in china in coming days.

Somalia:

Local market is stable due to no demand from India and other countries. At very higher prices demand stops.

Bangladesh:

Local market is stable. China has stopped buying at higher prices. Not much demand at higher prices due to that market get stabilize and little down.

Tanzania/Mozambique:

Market is stable in the local market due no demand from china at higher prices. Not much arrivals of the cargo from bush. China buyers are asking for lower prices but no interest at higher prices. Demand stable and slow down since last two days.

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 and equal to other origin prices. For Hulled Sesame Seeds, there is demand which makes market stable.

Report on China:

Local market prices sentiments are firm but due to difference of import prices and local prices market get stable and little down. China buyers are reluctant to buy at higher prices as they feel that it will be risky to import at higher prices.

According to the view of the importers, the reasons for sesame market to go down today:

1. Local crop prices stop increasing faster and market get stable.
2. New offer from Nigeria has started slowly so people are asking for lower prices for forward contract which makes current market stable and down.
3. International Prices become higher than at local port prices.
4. No lucarative profit importing at this prices.
5. Nigeria new offers makes to think over by the customer

According to the informaiton from the Port, the inventory at Huangdao Port is about 90,000 tons and at Tianjin Port is about 50,000 tons. The inventory has been sharply increased in last few days so prics stop rising. 

Personal Views:

According to personal views Indian Prices should be stable or little down as weather is good. International prices will also should be stable. If Nigerian shippers started speculating the market and offer prices will be lower than current market so prices will drop in the first week od september.