We have not mentioned the pandemic and what is happening in this regard in Ethiopia for a number of weeks now. With elections scheduled to take place in a few weeks time it seems appropriate to take a closer look at what has been happening in the country with regards to Covid. The number of cases is once again increasing having initially had a peak last summer. From the following chart it is clear that cases have been growing since the start of 2021. Sadly, anecdotal evidence (i.e. conversations with our partners in country) also suggest that the death rate is increasing. For now, it does not appear that the increase in cases is having an impact on coffee flows; in fact the lack of availability of some shipping line containers in Addis is of more concern and the main reason why shipments are delayed.
Having described the violence in Tigray region as ethnic cleansing last week, the USA is now planning to send a US Senator to the country to convey the concerns of the US Government to the Ethiopian PM.
On the coffee front, trading has been subdued this week, with the market in NY rather choppy not helping local exporters get any sense of direction as to where prices are heading. The Coffee and Tea Authority appears bullish having increased registration prices on Tuesday by a couple of cents/lb.
Birr 40.20 = USD
Have a good weekend.