« SEESAME SEEDS »
The market has been stable since last couple of weeks as almost all of the International markets were closed on account of Christmas & New Year. The movement of Sesame Seeds from India will depend on several factors. The points on which one should keep a close eye are as below:
Korean Tender: » As they have enough of stock at the moment, AT KOREAN TENDER are considering a delay in announcement for the next tender. Earlier the dates were in January and now they plan for February.
Currency (USD/INR) » The INR have appreciated by almost 2% in the last one month. From levels of 64.51 Rupee for every US dollar on 01.12.2017, to 63.34 Rupee for every US Dollar until yesterday. This surely increase the prices in US dollar terms by 30-40$ which is quiet considerable increase for most of the importers in Europe.
Increase in freight rate » As this is the last quarter of the financial year, the shipping company are emphasising to increase the freight by implementing GRI so as to increase business/profits. The decision should be made within this week.
It is also very important to understand that the demand from all major buying countries. The demand might suddenly increase or buyers may postpone their buying decisions. Overall we don’t expect the prices to go down in a big way.