Sesame Seed Price Increased by RMB 200-300/mt (USD 30.07/mt-45.11/mt) Due To The Depreciation of RMB Against US Dollars

This week, the onshore yuan closed at 6.75, which has depreciated by 7% compared with the number in February. Based on the data from Food and Oil. The import cost of Niger sesame seed is USD 1,480 CIF China's main ports. The actual import cost calculated by the exchange rate in Feb is estimated at RMB 10,493/MT (USD 1577.71/MT), and the cost is increased by around RMB 500/MT (USD 75.18/MT) at the current exchange rate. In this case, the traders increased the stock sale price by RMB 200/MT (USD 30.07), as they have stock to lower the average price. The buyers are more likely to choose stock sales instead of international trading due to the risk of the exchange rate.