FOB offers have not changed in the last 2 weeks however the terminal market has lost 15 cents, making new business with origin very difficult; All New Crop offers even for the lower Natural qualities are now offered equivalent at plus double-digit differentials, whereas interest is some 30 cents away! Volumes at ECX continue to disappoint; Lekempti coffee is nearly non-existent, pls see below:
We believe that the insecurity in the Lekempti region is the main reason for the current lack of flow of Lekempti coffee through the ECX.
With business from origin limited to Plus Qualities and natural volumes at ECX expected to increase at ECX to over 60,000 MT by the end of April something as got to give…
The Addis Coffee meeting is ongoing these days if something new and relevant is announced we shall report.
Hopefully we see some of our coffee friends in Mombasa next week.
by Charles Seara Cardoso