The number of COVID related deaths in Ethiopia has passed 700 worryingly, over 50% of these registered in August, which indicates that the disease is accelerating in the country. Conversely, shipments in August are reported sharply down to 1 year ago, we have told that whereas in August 2019 shipments were over 30 K MT, this August they are around 15 K MT, 50% lower. Prices at ECX remain high and volumes offered disappointing, leaving shippers short of what they need to cover commitments.
Quality concerns surrounding the current crop are ongoing, particularly for Naturals, this crop cup quality and green appearance is, very much, on the low side. Looking forward to the next crop things are more encouraging, the rainy season has been good and the crop is developing well. We are in the preparatory phase of our crop tour however anecdotal commentary from our partners in Ethiopia is that we should expect increased volume and better quality for 20/21.
Birr is at 36.10 to the USD, losing nearly 3% during the month of August.
by Charles Seara Cardoso