The amount of coffee offered for sale at the Moshi Exchange
conducted last week increased to 28,497 bags compared to 25,673 bags of
the previous trading, although the prices continued with the downward
trend.
However, according to the Tanzania Coffee Board (TCB) auction report,
a total 20,546 bags, weighing 60Kg each were sold during the trading
session at the market.
“The average prices were below the terminal market by 2.02 US dollars
(3,232/-) of a 50 Kgs bag for Mild Arabica while Robusta increased by
29.58 US dollars for a 50 Kgs sack,” stated the TCB report.
Recently TCB said that the bumper coffee harvests expected in Brazil
of about 50 million bags as compared to 45 million sacs last season is
among the reasons behind the increased market supply that could
definitely lead to price cut.
Likewise, Columbia is expected to have
premium crop of high output, where Tanzania coffee belong to the same
group.
Tanzania, Africa’s fourth-largest coffee producer after Ethiopia,
Uganda and Ivory Coast, produces mainly Arabica and some robusta coffee.
Prices of its Arabica normally track the New York market while those of
robusta take their cue from London.
The New York (NY C) December delivery were down by 5.50 cents of US
dollars (about 8,800/- ) equivalent to 6.06 US dollars (9,696/-) of a 50
kgs bag Freight on Board (FOB) and London International Financial
Futures And Options Exchange (LIFFE) market.
The January delivery were down by 64 US dollars (about 102,400/-) per
metric tonnes equivalent to 3.20 US dollars (about 5,120/-) for a 50
kgs bag FOB compared with the auction held early November this year. The
next auction will be held Thursday this week.
Source: The Daily News, http://www.dailynews.co.tz, reported by Sebastian Mrindoko in Dar es Salaam
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