Earlier this week we wrote about the unrest and lockdown that followed the murder on Monday night of Hachalu Hundessa a prominent Oromo activist. Hundessa was buried yesterday and today Addis is starting to re-open for business; our office is opened as are many shops and other businesses. Internet connectivity is still patchy but we believe that in the coming days things will return to normal. 

We have updated our ECX tracking data and the pattern that we have been reporting for the last few months continues, Southern coffees are very much reduced vs a vis the previous 2 years:

Volumes have more than halved for Yirgacheffe and Sidamo/Guji between last year and 2020; even if production is down this season we do not believe that the reduction is of this magnitude, stocks are mostly somewhere along Vertical Integration supply chains and in the hands of agrabes that remain disappointed with current price levels having paid high cherry prices in late 2019 added to a firm Birr and low terminal market.

Forex data has not been published so no update this week.

by Charles Seara Cardoso

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