Exports continue to be strong, granted there is a reduction vs. September as expected, however over 22 K MT in October is a record October! March to October shipments in 2021 are 38% higher than for the same period in 2020 and 18% higher than in 2019 (which was the record export year). With 4 months to go to complete the export year (March to Feb) we are now considering that the 20/21 crop could be the first that gives rise to 5 Million bags in Exports.
Meanwhile the 21/22 crop is progressing well with the Guji area also starting to be harvested. Prices for cherries range between 28 and 37 Birr per kg (225 and 300 usc/lb FOB equivalent) .
On the political front, the latest BBC report highlights the human tragedy that shadows the fighting but also gives some hope that the African Union may be able to get the opposing sides to the negotiation table https://www.bbc.com/news/world-africa-59233516 .
Indeed the fighting does not appear to be affecting the flow of coffee from Addis to Djibouti, we loaded several trucks with stuffed containers this week and although the availability of containers continues to be limited, once they become available, they get stuffed and move to Djibouti promptly. Vessel slots are hard to come by however vessels are calling Djibouti, even if less frequently than we would wish for.
Birr 47.52 = USD 1
Have a good weekend.