Are sesame seeds following the general trend?
October 28, 2016 at 8:22 AM ,
Der AUDITOR
New crop estimates
The most important Indian market participants have made use of the break caused by the holidays for a conference. By exchanging information with the various trade partners, they have arrived at new crop estimates, which are significantly lower than before at 160,000 – 200,000 mt.
Some traders are even warning of a disaster already. By comparison, experts were markedly more optimistic at the beginning of the harvest with 200,000 – 300,000 mt. To what extent their fears will become reality remains to be seen at the end of the month, when accurate figures are available. Carry-overs from 2015 are at 100,000 mt.
The calm before the storm?
Otherwise, the meeting provided few impulses. The market situation is currently stable, mostly. Sesame seeds, hulled, are still offered for about 1.42 USD/kg CIF Hamburg. Sesame seeds, natural, still remain at about 1,27 USD/kg CIF Hamburg. Despite the demand being good in country, the demand for exports leaves some to be desired.
Future price increases?
As long as there is still no buying interest in China, the Indian market will continue to potter about. The Indian market participants are increasingly worried about the growing competition from Africa. Sesame seeds are offered at clearly more favourable conditions there. Indeed, prices are so low that Indian processors will import an estimated 100,000 – 150,000 mt this year. Although there is the question of how long the comparatively low price level will remain with sesame seeds. Current prices are almost as low as they have not been since 2008. Future price increases seem to be possible, especially in view of the rising oil prices on the world market.
sesame seed prices India |
|
type |
USD/mt |
hulled, 99.95% |
1.42 |
natural |
1.27 |
CIF Hamburg |