There are reports of a spike in Covid cases in the Philippines and this has led to another temporary lockdown in certain parts of the country. As it is they were recovering from the previous lockdown and were not entertaining new enquiries until Q4. But it looks as though that might now be further extended.
Furthermore, the Indonesian suppliers continue to advise shortages in raw material availability and consequent increases in cost of production. Some shippers are delaying their shipments and others are indicating price rises.
In the UK front, the currency pressure has abated somewhat with GBP making gains against USD. However, price movements at origin have been sharper.
Demand continues to be stable for DC. Given the supply bottlenecks that can only mean one thing for prices.
Trend : Firm
Overall Sesame seeds prices have been little up owing to lower supply due to festivals and Covid19 related local lockdowns.
Demand – Majority countries return from their holidays this week after Eid and Summer holidays respectively. S Korea announced a new 9800 Mt tender for shipments in September / October latest. China has been covering as demand is expected to be higher in coming months for their Autumn festival and supply of new crop is expected to be lower due to Floods.
Supply – Tanzania-Mozambique new crop cargo should reach destinations later this month, until then supply of good quality raw material is low. Indian Monsoon crop sowing is on track and we are looking at a 350-450,000 Mt crop unless any adverse weather affects the same last minute.
Trend : Stable to Bullish (+/ -$50)