Anther slow week on every front. Preparing coffee for shipment is slow or slower than usual! Enquiries from overseas are few and far between as our buyers assess the longer terms of the pandemic on their future needs. Meanwhile at the ECX prices increased this week as shippers cover shorts established before the recent drop in the terminal market.
Below we analyse the volumes traded at ECX up to the 3rd of April. We hope to update these in the coming days, however the patterns are set. Southern coffees continue to be offered in much reduced volumes to what had been traded at the same time in the past 2 years. Meanwhile the volumes of Limu are very healthy and undoubtably will be getting mixed into Sidamo shipments.
Natural coffees offers are also very much reduced from Sidamo, whereas Lekempti coffee volumes picked up to gain the lost ground that we saw at the start of the season.
This reduction in availability of coffee from the Southern coffee growing areas will bring some problems to shippers and traders alike in the coming months.
The birr has not lost much ground to the greenback this week currently trading at 33.54
Have a good weekend and stay safe.
by Charles Seara Cardoso
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