It happens every few years, in adverse conditions, some shippers get it wrong and struggle to stay afloat in a sea of adversity! In 2020 internal and external factors, some coffee related and others not, some new and some never experienced before, combined, resulting in some of the top shippers in Ethiopia struggling to cope. The table below ranks the shippers´ volumes for the six month period July to Dec 2019 vs July to Dec 2020, the conclusions are clear to see. Since overall exports July to Dec 2020 are down to 70% of the volume same period in 2019, any shipper above that 70% figure is doing well. Some, unfortunately, are clearly not!
We have been here before, this is not new, shippers that are doing well seem to nearly disappear from one year to the next; while others clearly flourish in generally difficult times.
Birr 39.80 to the USD
Have a good weekend.