Entries by admin

Biz comes to a standstill, NY down ECX up

Following some very decent volume of business enabled by the recent rally in NY, business has come to an abrupt halt as ECX and Exporter offering prices have risen and the terminal market price declined. Volumes at ECX continue to disappoint and shippers in need to cover recently established shorts scramble for the reduced volumes […]

Pandemic accelerating as shipments decelerate!

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, […]

ECX Prices jump on shipper short-covering

The recent NY rally gave shippers an opportunity to sell to the trade which booked some decent differentials. Now, these commitments need to be covered at ECX which have pushed the prices at the Addis Ababa Exchange through the roof to levels way above where shippers sold, Lekempti traded at ECX this week at levels […]

NY market allows for more trading

The rally in NY this week made for some more attractive differentials which in turn allowed for some shippers to register some contracts and Roasters book some more attractive (than in recent weeks) differentials. Djimmah traded down to below 20 under FOB CAD and Lekempti traded at a small premium to Djimmah, which allowed biz […]

ECX Sale Volumes Drop Like a Stone!

ECX sales volumes are a fraction of what they were 12 months ago. If this trend continues the output for 20/21 is going to see a sharp decline vs 19/20, which saw record exports as reported last week. Below we compare the ECX sales between the 23rd  June and 21stJuly for 2020, 2019 and 2018; at […]

Internet Reconnected

Internet was reconnected to businesses and households this week; data services on mobile phones still not working as the government continues to manage a restless population in the wake of the recent political upheaval. Three weeks without the internet has further exasperated an already difficult season, at least we can communicate with our suppliers and […]

Still No Internet

Following a complicated few days, last week businesses and life, in general, returned to somewhere close to normality in Ethiopia this week, however, internet access is still very restricted; only a few organizations have been switched on; so imagine how much your daily work life would be disrupted if you did not have email or […]

Declining Washed ECX Sales

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 […]

Unrest Following Murder

There has been some unrest in Ethiopia since Monday night, we thought it would be of interest to write a few lines on these events. BACKGROUND Hachalu Hundessa, a 34 year Oromo Activist and Musician was murdered on Monday evening; He was known as a defender of the rights of the Oromo people, he counted […]