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We have finally started to see the increased crop be reflected in Export volumes; March 21 exports exceed March 20 by 700 MT and reverse the picture of the past 10 months, where the monthly exports fell short of the corresponding month of the year before. We now expect this trend to continue in April and so on as the higher 20/21 crop is shipped.

News of the pandemic in East Africa continues to be very worrisome, the Tanzania President having succumbed to the disease, Kenya once again in lockdown and the numbers in Ethiopia reaching new highs. What the implication of souring covid cases will be, we do not know, however we are mindful that the initial postponement of the 2020 elections was due to the pandemic.

Source: World Health Organisation – weekly figures from 1st week in January 2020 to last week in March 2021

Forex 41.50

Have a good weekend.

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