[Domestic News]Mysteel Analysis: July 2023 Sesame Import Data Interpretation.

1.Overview of Sesame Imports

According to customs statistics, China's imports in July 2023 amounted to 42,965.238 tons, a year-on-year increase of 2,295.352 tons, or 5.61%. Compared to the previous month, imports increased by 11,807.779 tons, a growth of 37.9%. The import value totaled $75,304,510 USD, marking a year-on-year decrease of $161,354,490 USD, or a decline of 68.18%. However, compared to the previous month, there was an increase of $21,623,099 USD, reflecting a rise of 28.72%. The average price of imported sesame seeds remained relatively strong this month. In July 2023, the average import price for sesame seeds was $1,752.69 USD per ton, representing a year-on-year increase of $215.48 USD per ton, or a rise of 14.02%. Compared to the previous month, there was an increase of $29.78 USD per ton, translating to a growth of 1.73%. Currently, the market primarily operates on a demand-driven basis, with downstream capacity being moderate and purchasing being cautious.

In 2023, China's cumulative sesame imports reached 480,520.147 tons, showing a decrease of 238,229.781 tons compared to the same period last year, with a decline of 33.15%. The total import value amounted to 768 million US dollars.

2.Main Source Countries of Imports and Importing Provinces

In July, the main source countries for sesame imports to China were India, Tanzania, Myanmar, and Mozambique. Based on the import data for July, the breakdown is as follows: 9,502.066 tons were imported from India, accounting for 22.12% of the total; 6,240.58 tons from Tanzania, making up 14.52%; 5,059.322 tons from Myanmar, constituting 11.78%; 5,044.885 tons from Mozambique, representing 11.74%; 4,804.661 tons from Niger, with a share of 11.18%; 3,689.806 tons from Togo, comprising 8.59%; 2,833.364 tons from Burkina Faso, making up 6.59% of the total import volume; and 1,235.001 tons from Ethiopia, accounting for 2.97%. Import quantities in July continued to show weak performance due to the higher cost of importing sesame and lower enthusiasm for downstream procurement.

In terms of import regions, in July, China's sesame imports were mainly distributed in the East China region, importing 29,761.057 tons, accounting for 69.27% of the total. The North China region imported 6,954.487 tons, accounting for 16.19%. The South China region imported 3,058.379 tons, accounting for 7.12%. The Central China region imported 1,999.775 tons, accounting for 4.65%. The Southwest China region imported 818 tons, accounting for 1.90%. The Northeast China region imported 373.54 tons, accounting for 0.87%.

3.Market Outlook Prediction

From the perspective of supply in the first half of the year, the quantity of imported African sesame has decreased, leading to a contraction in market supply. As a result, domestic prices have begun to rise. In the short term, the relatively higher cost of foreign sesame to some extent boosts domestic market prices. According to the purchasing and sales patterns of previous years, the trading peak season for the domestic sesame market usually starts in September, when market activity picks up. It's important to closely monitor the domestic sesame opening prices and the subsequent situation of imported sesame arrivals at the port.