The recent visit to 240 c/lb in NY allowed for fresh business in Ethiopia coffee. Logistics have also improved a tad, with better availability of containers and slots on vessels. Exports are running a little smoother, we have been pleasantly surprised by how much seems to be getting processed, loaded and moved to Djibouti. At the port vessel availability is also better than a few weeks ago, long may this trend continue…
In Addis there are still some stocks of unsold Washed coffees, however even these qualities seem to be finding buyers and slowly (slower than normally) Grade 2 coffees are moving to Djibouti for onward shipment. Much bigger volumes in grade 5 were registered for export this week at around the 200 c/lb FOB level. Asian buyers are very active in Grade 4 qualities both Sidamo 4 to a lesser extent compared to Lekempti 4 sales. Lekempti 4 is increasingly more acceptable to usual Sidamo 4 buyers.
Meanwhile the BBC reported on journalist arrests in Addis : https://www.bbc.com/news/world/africa?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=62978207fc2fb576dc00cae1%26Ethiopia%20police%20ramp%20up%20pressure%20on%20embattled%20media%262022-06-01T15%3A21%3A48.702Z&ns_fee=0&pinned_post_locator=urn:asset:98a9ce72-f216-4b67-ba9c-18446e080507&pinned_post_asset_id=62978207fc2fb576dc00cae1&pinned_post_type=share
Birr 51.63 = USD 1
Have a good weekend.
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