"Sesame seeds: Korean Tender fails any hopes of recovery"

June 19, 2017 at 7:19 AM , Rainbow Exports
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SESAME- Market Prices hit rock bottom

Sesame Seeds Market Report:

Nigeria Market Information:

Exchange rate is stable. Local market prices are stable. Few people have stock on hand and sowing has already started in for the new crop in different region of Nigeria. Forecast of weather of Nigeria for rains are ok for next coming days. Overall market is stable.

TOGO/MALI/Burkina Market Information: 

Exchange rate is stable. Market is stable. Few people have stock in their hand and less quantity available in the market. People have started sowing of Sesame Seeds.

Ethiopia Market Information: 

On ECX (Ethiopian commodity Exchange) prices are stable. There is not much business taking places for China. Few regular buyers are buying but less quantity. Overall market is stable and not much movement in the market.

Sudan Market information:

Exchange is stable. Local market prices are stable.  Market is stable not much movement in the market due to local Festival of Muslims.

Somalia Market information:

Market is stable and not much movements in the market. Local festival is going on for Muslim community so there is not much movement.

Bangladesh Market information:

Local market is stable for all varieties of sesame seeds due to no demand. China is not aggressive in buying at the moment from bangladesh due to huge stock at the port.

Indian Sesame Seeds:

there was only hope of Korean Tender Demand which will makes the market stable or give boost to market to keep it stable and higher. but Allotment of the tender which is about 70% to India market and 30% to African market, which broke all traders hope in the market to recover from this lower level. Exchange rate is also stable vs. Dollar.

Korea tender Results as follows:

India    :           4200 Mts. (1800 Mt. Allana ,  1200 Mt.S A Impex, 900 Mt Shetetal Ind., 300 Mt. ASIAN

Africa  :           1800 Mts.  (1200 Mt. Olam &  600 Mts. Others) 

Arrivals of summer crop 2017 in some of the Market of Gujarat as follows:

Market Details / No. of Bags Arrival

07.06.2017

08.06.2017

09.06.2017

10.06.2017

12.06.2017

13.06.2017

14.06.2017

15.06.2017

16.06.2017

17.06.2017

19.06.2017

RAJKOT

500

2100

1700

1500

1600

1500

1900

0

1800

900

1700

GONDAL

2200

900

1500

1300

1400

1600

1500

0

2800

1400

1300

JETPUR

250

250

250

150

150

100

150

0

250

150

150

JUNAGADH

600

500

800

700

500

400

600

0

700

700

900

BOTAD

200

250

200

80

200

200

250

200

150

150

150

HALVAD

5200

3300

3000

1600

3500

4000

3200

0

3000

2600

1900

VISAVADAR

700

400

900

700

700

900

600

0

700

500

400

BHAVNGAR

200

200

150

30

45

45

35

0

60

50

40

MORBI

150

170

170

60

60

80

60

0

100

100

60

JAMNAGAR

300

350

300

400

450

400

450

0

550

350

500

JAMJODHPUR

600

700

700

450

350

450

500

0

600

400

500

SAVARKUNDLA

200

250

150

200

150

250

200

0

250

200

200

UNJHA

500

0

2000

1000

1000

1300

1100

0

1100

800

1200

AMRELI

1300

1200

1200

-

950

900

100

1400

900

700

600

MAHUVA

0

0

0

150

150

100

100

0

150

100

100

After Sunday holiday, market arrival today on Monday higher than normal to all local markets in Gujarat. Local market is down by $30 per mt.  Prices hits at rock bottom due to heavy presser in the market of Gujarat State. Rain has also started which is good for the sowing of new sesame seeds. If there will be good rain in coming days which is required for the sesame crop than market can go further down. Today overall Indian Sesame Market is down. Last year crop i.e. winter crop of 2016 is available at lower prices than summer crop

Tanzania/Mozambique:

Whenever there is foreign visitors come to origin for visitors to buy or to see the cultivation, etc. local market will be stable or will go little up due to local people sentiment that there are foreigners came to market and there will be buying or demand. 

Market is stable and chines buyer prefer to buy new crop due FFA is lower in the new crop. They compare the prices and quality of other origin vis-à-vis to Tanzania and Mozambique and then they will buy. There is demand at lower prices from China.

Report on China Demand (A Biggest Buyer of the World for Sesame) :

  1. Yet there is huge quantity of sesame cargo lying at the port (Main port of China Qingdao and Tianjin).
  2. Chines importers has imported cargo are waiting to sale the cargo which they have bought at higher prices.
  3. Still Sellers presser of selling cargo which they have imported at higher level.
  4. Tanzania and Mozambique at lower level prices and people have places orders from $1150 to $980. The cargo will reach by next month beginning at that time market will be stable or can be little higher.
  5. Market sentiments are stable at this level.
  6. New Sesame sowing has started in China. Chines new crop will arrive in the month of September. 

According to personal views Prices will be stable and it may stop going down furthers. There will be demand at lower level prices. 

India market will is weaker even after Korean tender demand. The Total quantity India got about 4200 mt. out of 6000mt. which will not affect the Indian market at all. But this level is fair enough for the market for Sesame seeds.

Attached Files

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Weekly Prices 19.06.2017
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