07/11/2014
Look Uncle Sam ! new crop has arrived & its massive
Yes, Its time to celebrate as new crop of Indian Seeds has arrived & its 40% more compare to last year trade figure of 230,000 Mtons. Moreover crop of African countries & China is also very encouraging compare to last year.
Unlike every year, this time the new crop has started with a positive note & prices have come down rapidly, As framers have grown only Sesame Seeds in their fields & arrivals in local market is increasing day by day from 100, 200, 500 bags to 7000, 8000 bags on per day basis.
As per recent meet in Jaipur, the Consumption pattern & Crop Scenario of different countries is as under : -
Consumption Pattern
China - 800,000 Mtons
Japan - 150,000 Mtons
Turkey - 120,000 Mtons
Korea - 70,000 Mtons
Middle East - 200,000 Mtons
Others - 10,000 Mtons
Hulling Demand - 200,000 Mtons
TOTAL - 1,550,000 MTONS
Crop Scenario in African & India
India - 400,000 Mtons
Pakistan - 50,000 Mtons
Myanmar - 200,000 Mtons
Ethiopia - 300,000 Mtons
Sudan - 250,000 Mtons
Nigeria - 150,000 Mtons
Uganda - 20,000 Mtons
Other W.Africa - 100,000 Mtons
Mozambique - 30,000 Mtons
Tanzania - 80,000 Mtons
Others - 20,000 Mtons
TOTAL - 1,600,000 MTONS
We offer our comments as follows:
China will buy not more than 300,000 to 400,000 mtons in this year. Most of the requirements will be covered from African countries
Indian crop is more by 40%, no any huge buying seen.
Total global production & total consumption is almost same.
In view, of the above factors, we don’t expect the prices to go UP in coming weeks. Rather, there are good chances that the market may fall down drastically.
Note: The exchange rate is also an important factor to watch