Mar 28 Daily Sesame Report
Posted on:2016-03-28 10:00 Page views:3163
Source: China AGLOOK!
Please Note: Some of the content below may repeat on a day-to-day basis due to minor change to the market and the updates will be marked for your convenience.
A: Market Report
|
Major Production Areas in China: |
|
(USD vs RMB:6.53:1) |
Major China Ports:
Kindly Note to all the foreigner exporters:
CHINA PORTS SPOT PRICE is the price Chinese traders offered to their terminal Chinese customers. They are only one of the factors for your reference to your offers to Chinese importers. Here we want to explain to some of the Ethiopia exporters members, some of them do not know why our China port spot price is much higher than the Ethiopia ECX exporters’ offer .1)China ports spot cargoes price is the spot price. ECX exporters’offer is the future price for Chinese traders.
2)ECX exporters’ FOB offer+ Freight +insurance+ government tax in China + financial costs
Holding cost in the port + profit of traders + other fees cost when imported = China ports sport price.Anything do not understand, kindly let us know.
a. Huangdao Port
b. Tianjin Port
B: Market Analysis
Today, domestic sesames prices moved up a bit while imported sesame prices continued to go up across major ports in China.
China: From what we gathered, the prices continued to hike up and fewer shipments arrived at China ports, most importers unwilling to sell, mainly including Ethiopia 1-grade, Togo, Sudan and Niger. Meanwhile, some importers have shown unwillingness to sell.
Moreover, as the stocks are constantly declining and the majority of low-priced cargos have almost been sold out and the cargos arrived at China later quote higher. Lately with the prices hiking up from overseas, China importers have been raising their offers or stopped to offer. Now the seller worry the prices may drop while the buyers worry the prices continue to hike up. Two things are worth paying attention to: one is how many cargos available for sale from overseas and the other is the volume of carryon stocks at China ports.
ADD: Zhongkun Plaza, E-621 Daxhongsi, Haidian District, Beijing 100098Overseas: According to ECX (Ethiopia Electronic Trading Platform), from Nov 9, 2015 to Mar 23, 2016, it traded about 267860.5 tons of new season sesame in toal. HUMERA whittish sesame accounts for the majority and total trading volume generally unchanged and the prices moved down a bit. On Mar 23, 2016, it traded about 2299.5 tons of sesame in total, averaging 1240.86 USD/MT, with WOLLGA averaging 577.8 tons, at the price of FOB 1211.33 USD/MT; HUMERA 1707.8 tons, at the price of FOB 1267.21 USD/MT, RDSSUG 13.9 tons, at the price of 1282.37 USD/MT.
Moreover, from what we gatehred from overseas, India is expected to see a sharp increase in plant acreages this year, down about 70%. And Vietnam, Burma and Ethiopia are also expected to see some decline. These expactations have caused panic among sesame traders world-wide and they all worry the balance between demand & supply will be broken this year. And Ethiopia exporters have also started to raise up their offers due to those estimations.
From what we gathered, currently, it quotes FOB 1350-1450 USD/MT for Ethiopia 1-grade white and the prices hiking up so fast, lots of importers are unble to buy. It’s worth noting that some foreign exporters canceled orders as the prices hiked up on overseas markets, which is not good for the market.
Moreover, from what we gathered, an open sesame bidding will be held in South Korea, totaling 14000 tons but now only 648 tons of sesame won the bidding, at the price of 2047.67 USD/MT, higher than same period of last year. The reason why the bidding price hiked up lie in the soaring prices from overseas, which made South Korea importers worry about the prices may continue to hike up. Personally, based on the bidding, most South Korean importers believe that there is much room for the prices to go up further. I will keep you updated about the open bidding.
