The relentless decline in terminal prices has brought whatever small interest there was to a holt. Minimum Registration Prices for Grade 5 coffees are around level NY so there are no buyers. Washed qualities are also over priced at over 280 c/lb for Yirgacheffe 2 and Sidamo 2 with Limu 2 at 225 c/lb FOB, particularly in light of decreasing differentials for other Milds from around the globe at the same time as NY collapses.
Weather wise the rain continues to affect transportation from upcountry to Addis, the rain is positive for the next crop but is impacting current shipments negatively.
Birr 54.59 = USD 1
Have a good weekend
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