FOB offers have not changed in the last 2 weeks however the terminal market has lost 15 cents, making new business with origin very difficult; All New Crop offers even for the lower Natural qualities are now offered equivalent at plus double-digit differentials, whereas interest is some 30 cents away! Volumes at ECX continue to […]
Interest and overseas business picked up considerably in the last week; with Year-End reports finalised and with New Crop requirements yet to be purchased buyers started showing interest in Ethiopia both Washed and more noticeably Naturals. New business interest for long strings, up until the end of 2020. At origin, shippers starting to take notice […]
Forex continues stable at a whisker below 32 Birr to the USD. Our FOB Price ideas for forward shipments: Yirgacheffe 2 N+90 Sidamo 2 N+80 Limu 2 N+35 Sidamo 4 N Level Lekempti 5 N-15 Djimmah 5 N-20 Prices at ECX has eased a tad this week for Limu and even Southern Washed coffee although […]
A week with a few surprises, it’s Ethiopia after all! Firstly, the much anticipated minimum price regulations were meant to come into practice this week, alas nothing happened, registrations continued as normal with contract levels registered at very different levels, the C&T Authority is meeting in Awassa to discuss this issue again so let’s see […]
The week has past in expectation for what will transpire next week when the Minimum Price regulations are set to come into practice. Exporters are non-the-wiser as to how the price will be set, there does not appear to be a mechanism in place just some assurance that the terminal market will be taken into […]
Further confirmation of the low availability of Washed coffee came in the ECX December stocks which reported the lowest Washed coffee stocks in the last 4 years as follows: This confirms our previous assertions that there was little 18/19 Washed coffee stocks in country; in addition arrivals of New Crop are also very much reduced, […]
Last week we made the comment that volumes for sale at ECX were disappointing; below we the compare New Crop arrivals at ECX as of mid-December 2019 vs 2018: Drilling into the arrivals 2019 vs 2018, the figure that jumps out is the big reduction in Washed Sidamo arriving at ECX, Limu coffees are actually […]
Having sold big volumes into the recent rally shippers are concerned that they cannot cover their more immediate shipments; it is a fact that volumes arriving at the ECX are disappointing and well below what shippers would normally expect to see this time of the year; a combination of weather and economic policy are behind […]
EXECUTIVE SUMMARY 2018/19 crop (on-year) The 2018/19 crop is revised to 426,987 MT (7.12 M bags), which is 10% higher than the 2017/18 crop. Washed and sundried production estimates are revised at 63,674 MT (15%) and 363,313 MT (85%), respectively. Disappearance has remained fairly constant with end of year 2018/19 stocks increasing by approximately 0.5 […]
The crop picking and processing is developing well, below our estimate of what has already been picked in the different regions: Djimma 65-70% Wellega/Limu 55-60% Sidamo 45-50% Guji 20-25% Yrgacheffe < 20% Weather has improved over the past week benefitting ripening and drying, in other words, less rain and more sunshine! Our concerns that the […]
