Minimum registration prices increased this week while the NY market fell, shippers’ offers for Grade 5 hover around 200 c/lb with NY around 230 difficult to conclude business. Washed coffee asking prices are still firm making grade 2 from the South above +100 FOB. Buyers’ price ideas are well below these levels so trading has been difficult.
Inflation is once again creeping up, between February and May the inflation rate increased just over 4% from 33.6 to 37.7%. Food inflation, a very important factor in analysing Ethiopia´s standard of living, is very high at 43% per annum.
The BBC is reporting that up to 30 Million people in Ethiopia and more in neighbouring Sudan and Kenya are at risk of hunger: https://www.bbc.com/news/world/africa?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=62aae66332686a6e65aefa4b%26Ethiopian%20children%20suffer%20%27deadliest%20form%27%20of%20malnutrition%262022-06-16T08%3A40%3A39.617Z&ns_fee=0&pinned_post_locator=urn:asset:cf75e5cb-bd67-4470-a443-b3268341738c&pinned_post_asset_id=62aae66332686a6e65aefa4b&pinned_post_type=share
Birr 51.80 = USD 1
Have a good weekend.
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