Pumpkinseed kernels

Whilst old crop is now short and in the hands of local traders, new crop is only a few weeks away and looking good for both grades, GWS and Shine Skin. Prices have been easing down in anticipation, but these decreases have had little impact on delivered prices due to the freight increases stated above.. We are seeing a widening in differential between the single and double ‘A’ grades indicating a possible overall decline in quality kernels this year, we will soon find out. The recent severe flooding in China was primarily in the South and had no impact on the pumpkin market.

Linseed

The impact of the EU announcement on escalating duty levels on Russian material is changing market dynamics. Canada generally a less popular source due to historic issues surrounding GMO is likely to see its market share increase. The European crop, has to an extent, been damaged by the excessive heat, but we do not know by how much.  Kazakhstan material will not reach EU buyers until 2025 and the next duty hike on Russian material comes in to effect on 1^st January 2025 which support prices generally.

The increased interest in Canadian linseed will change the dynamic in USA regions who predominantly draw from this area.

So, the market looks firm going forward.

Sesame seed

Natural sesame prices are weak due to the large crops reported last month. This provides an excellent buying opportunity for this grade. As reported the major concern is pesticide levels in the crops, so certificates should be provided with all shipments. Unfortunately, these upcoming newer origins are yet to achieve general GFSI certification so may not be of interest to many clients yet.

The impact on the hulled prices has been minimal. Indian supply is good, and whilst rumours are spread by local merchants to try and firm export markets, they to date have had little effect. The monsoon is complete, and planting has taken place in India. There are reports of a smaller Gujarat crop, but we have seen this for several years. Sesame is grown in many states in India; MP, UP, Rajasthan amongst others and here in recent seasons planting increases

China is now harvesting their crop of sesame which also takes pressure away from the market for a time.

All in all, however, we feel sesame offers good value at present from all origins and there is really little downside from India or South/Central America in our view.

Hulled Millet

Ukraine has started harvesting but quality is down due to the harsh climatic conditions experienced. Along with this the crop is forecast smaller due to a reduction in plantings. With the removal of the quota suspension in EU to protect their farmers, millet prices have increased in the region. The UK continues to support Ukraine by suspending the levy, and the product continues to be attractive for USA markets.

Sunflower

Well prices have lifted off the bottom now due to concerns over the EU harvest this year. Excessive heat across Bulgaria, Romania and Ukraine has led Oil world to reduce their harvest estimate by 1 million tonnes already. Surveys show that nearly 50% of Romania’s sunflower fields are severely impacted. Reports form Ukraine show some fields. Generally processors are forecasting major reductions unless rain came, which it didn’t!

The other concern is seed quality, whilst some fields look OK, the sunflower seed head is small, and the seeds also. Since bakery grade kernels are graded out of the oilseed by size, it is possible the kernels market wlll be shorter than the oil crushers supply.

Demand will be strong from China as in previous years, and with a large amount of the market uncovered having waited for the bottom, we do see a challenge coming in supply.

Prices are up and are likely to continue. Other EU oilseed crops are also significantly impacted, for instance rapeseed is down 2.3 million tonnes, further adding to firmness in the oil complex.

Poppy

Optimism for new crop supplies continues and there is an expected easing in price, but we await to see how the Czech crop has survived the excessive early heat. Whilst it will be the major supply, the Czech are clever marketeers and will not drop prices easily.

Overall as we see it, there will not be an abundance of poppy, so whilst prices might ease a little they will not be huge. This situation is very unpredictable, so we do not recommend holding out for a decline.

Quinoa

Prices rose in Bolivia with Peru following suit as usual. This was both supply and demand driven, in particular by USA and Asian customers. We see some new growing regions expanding the potential supply base this year which adds a new dynamic to this market.

Chia

Here we go again! Low rainfall impacted the crop in South America. Yields are down almost 50% in some areas.

We were all so optimistic about the region and its likely crop, but expectations have been dashed, and now we are in a potentially tight supply situation and escalating prices for premium quality material. Bolivia was expecting a bumper crop, weather intervened. Paraguay and Argentina followed. India has remained stable in pricing for their small crop, which will surely sell out soon.