Stable Prices as China's Sesame Seed Inventory Grows in Nov-23

As of November 1, 2023, Huangdao Port in China reports a sesame seed inventory of 154.10 thousand metric tons (mt), showing a 5.04% month-on-month (MoM) increase primarily due to off-season demand. However, year-on-year (YoY), the inventory has decreased significantly by 25.12%, attributed to a reduction in import volume. Despite the rising inventory, traders are reluctant to lower prices given the high sourcing cost, resulting in price stability for W43. Expectations indicate that inventory will continue to grow in the upcoming weeks due to weak demand, maintaining a flat price trend.