The Indian sesame market has been an approx 10 to 15$ pmt downwards this week due to weak demand at the market. Sesame prices for Natural 99/1/1 quoted $1445 pmt FOB for non-EU destinations, which was $1450-$1460 last week.
Due to heavy rainfall and unfavourable weather conditions market got support in the last few days, but as the new crop arrivals started coming to the mandis, prices began to dip.
According to traders, the sesame market is fluctuating, and as of now, there are no clear reports about crop damage due to rainfall. According to the reports from farmers, traders are expecting more damage to sesame seeds crops.
As per traders point of view, new crop arrivals are very slow and expected to decrease. On the other hand, there is concern about the availability of suitable stock with stockists. Thus the market is not getting support. On top of that, the quality of the new crop is expected to be weak compared to the old one because of the rainfall.
Buyers are waiting for good quality stuff, that’s why there is very sluggish demand from stockists, and average demand is also weak in the local market; thus, the market is continuing with the downtrend.
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