Following several drone attacks on vessels by Houthi rebels in Yemen, many shipping lines stopped calling Djibouti this week with disruptions expected to continue for the foreseeable future. The expectations are that an international task force led by the US Navy will restore safe passage in the Bab el-Mandeb strait, the 20 mile body of […]
November 2023 shipments reached 16 K MT equaling the average November shipments for the past 5 years and were 4 K MT higher than in November 2022. All in all a good performance, December we also expect to be a good month for shipments. The higher terminal market and lower Minimum Registration Prices have flushed […]
The Coffee & Tea Authority has reduced Minimum Registration Prices for 22/23 Crop Grade 5 coffees to try to boost shipments and clear warehouses of old crop as New Crop 23/24 is about to arrive in Addis for milling. New Crop 23/24 Minimum Registration Prices FOB Djibouti, are not so attractive, at around +100 for […]
With the crop coming off trees in ernest, old crop is moving out of shippers warehouses and on to vessels at a steady pace and with an increased sense of urgency. Of course the recent upward movement in NY has also helped selling. We expect that November shipments will be steady following on from October […]
The Coffee & Tea Authority has started registrations for New Crop 23/24 at prices that have substantial premiums to current 22/23 crop Minimum Registration Prices. Grade 2 23/24 premiums over current crop at between 20 and 25 usc/lb, whereas Grade 5 premiums are a more modest 10 usc/lb. However, given fledgling NY terminal market prices, […]
Exports for October topped 20 K MT; Shippers started “throwing in the towel” under pressure from Coffee & Tea Authority penalties, seeing the New Crop on the trees ready to be picked and steady prices. November shipments should continue this recent improved performance aided by the recent buoyant NY terminal market which as come just […]
The higher terminal market and lower minimum registration prices coupled with rather firm Natural differentials from other origins allowed for a little more business to get done this week compared to previous weeks. However, quality has to be very carefully checked and only small volumes are available as we are at the tail end of […]
Cherry prices have increased a tad this week, we have heard that agrabis are paying up to 30 Birr per kg of cherry. This price remains still well below last year’s cherry prices which reached 3 times as much. Weather continues favourable for harvesting. Benchi Maji has seen some rain but this is not affecting […]
This week’s rally in NY helped a little business get concluded. However Minimum Registration Prices continue to limit business, additionally demand is muted, normally a 15 cent rally would induce a few contracts getting signed off, alas not this week. Meanwhile focus is increasingly turning to the new crop which continues to come off the […]
Ethiopia coffee exports reported as 17 k MT bringing the 7 month March to September period to 160 k MT. We are currently 21 k MT below the 5 year average and given that this 23/24 March to Feb period should have been an up year the pace of shipments is very disappointing. We believe […]
