Nigerian Sesame Seed Exporters Waiting for Volumes to Increase and Prices to Stabilize

Sesame seed harvest volumes in Nigeria have started to pick up. However with a current EXW price of USD 1,250/MT and a FOB price of USD 1,550-1,600/MT, most exporters will not commence buying until volumes in the country have increased and the prices have stabilised. At this stage the CFR price would need to be around USD 1,700/MT for it to make sense for any exporter. However, during this period local traders and aggregators will be buying and holding stock until exporters are ready to buy and export sesame seeds.