This week’s rally in NY helped a little business get concluded. However Minimum Registration Prices continue to limit business, additionally demand is muted, normally a 15 cent rally would induce a few contracts getting signed off, alas not this week.
Meanwhile focus is increasingly turning to the new crop which continues to come off the trees. Cropping is ongoing in Djimmah and Limu areas. Weather remains favourable and prices stable at between 20 and 25 Birr per kg of cherry.
On a different topic, inflation has been declining for 6 months. However, Black Market forex rates continue extremely high at approximately double the official rate.
Birr 55.42 = USD 1
Have a good weekend