The ongoing fighting in Northern Ethiopia between Ethiopia National Army and forces loyal to the Tigray People’s Liberation Front (TPLF) has reportedly resulted in many civilian casualties. Amnesty International is reporting that there has been a massacre in a Western town of Tigray region carried out by forces loyal to the TPFL following a defeat by Government troops in a nearby area. The conflict is turning increasingly brutal as Government forces appear to be gaining the upper hand in the conflict. The TPLF has decreed that all Tigray people must join the forces that are loyal to the political party to fight against the National Army which has been mobilised to Tigray to remove the TPLF from power in the Northern region.
Focusing on coffee, below we compare the ECX sales Year to November 6th over 3 years The figures speak for themselves, overall the sales at ECX are down by 30% in 2020 vs 2019:
Furthermore Exports are also very disappointing, below we compare export figures over the last 3 years:
Birr 37.75 = USD 1
Have a good wkend