Minimum registration prices remained unchanged, in NY prices came off so it is not surprising that business is slow. Shippers want to do business but asking prices based on upcountry prices are completely untradable. Export Contract Registrations for commercial qualities must be close to zero this week.
It is unlikely that buyers would be paying these prices so exports will remain low; indeed this is a very slow start to the year, export figures for March will be available soon and are surely to disappoint the Coffee & Tea Authority. The body that oversees the coffee industry has been on a campaign to get shippers to export but with so little coffee arriving in Addis there must some very concerned officials in Addis these days.
Weather continues to be very wet in Addis and some of the coffee growing areas such Wellega (Lekempti).
Birr 53.90 = USD 1
Have a good weekend.
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