Entries by Charles Seara Cardoso

Government pushing for shipments

In a bid to accelerate shipments and push exporters to ship, the Ministry of Trade is introducing a new 15% Tax on coffee that is held for over 12 months unshipped. Additionally, there will be penalties for “hoarding” coffee rather than shipping. This move is the latest attempt by the Government to increase exports and […]

These are difficult times

The weather continues to be humid and is getting colder as “winter” approaches. Rain stops coffee from drying or remaining at optimal moisture levels, and makes roads impassable. Quality concerns are ongoing with many samples rejected for earthy, musty cups. Meanwhile shipments, while not completely at a standstill, are much lower than what they should […]

Forex rates in focus

Another short week in Ethiopia (with 2 holidays) with little to report on the trading side, as the NY market is well below the highs seen in mid April, shippers’ offers go unanswered. Shippers are starting to deliver on the sales concluded in February, quality remains a concern but is improving (slightly). Shipments still moving […]

Lots of offers, little business

Shippers continue to offer, however a combination of lower terminal market, higher minimum registration prices and buyers having “filled their boots” when NY rallied a couple of weeks’ ago have resulted in less business being concluded. Quality concerns are an ongoing issue, both in Naturals and Washed coffee qualities. Weather continues wet, normal for this […]

A more subdued week than last

Whereas the focus of the world this week was on the disastrous fighting in Sudan between opposing factions within that country’s military structure, Ethiopia has not been featured in the news, a sign that the country is at peace and inspite of the drought in certain parts of the country, things are stable. On the […]

Things got busy

The rally in NY really gave business a push this week, the terminal market moved approximately 20 usc/lb and finally shippers’ price expectations could be achieved. A lot of business was concluded this week let’s see some execution now! Quality of Naturals (Grade 4 and 5) seen so far this crop cycle has been very […]

Very slow week

Minimum registration prices remained unchanged, in NY prices came off so it is not surprising that business is slow. Shippers want to do business but asking prices based on upcountry prices are completely untradable. Export Contract Registrations for commercial qualities must be close to zero this week. It is unlikely that buyers would be paying […]