November 2023 shipments reached 16 K MT equaling the average November shipments for the past 5 years and were 4 K MT higher than in November 2022. All in all a good performance, December we also expect to be a good month for shipments. The higher terminal market and lower Minimum Registration Prices have flushed out the remaining lots in shippers warehouses at a time when the new crop is about to start arriving in Addis.
Cherry prices in Sidamo have crept up as the harvest peaks, currently Washing Station operators are buying at 40 to 45 Birr per kg cherry, still well below last year’s prices.
Drought in the North of the country over the last few years is taking its toll on the population, the BBC reporting that 176 people have died from hunger in Tigray region: https://www.bbc.com/news/world/africa?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=6579441b87855b2dac7d4270%26Dozens%20more%20die%20of%20hunger%20in%20Ethiopia%20as%20drought%20worsens%262023-12-13T05%3A47%3A10.261Z&ns_fee=0&pinned_post_locator=urn:asset:445ac927-92db-4c9d-a58f-a85bc4ff3b1a&pinned_post_asset_id=6579441b87855b2dac7d4270&pinned_post_type=share
Birr 55.85 = USD 1
Have a good weekend.
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