Ethiopian green coffee trade through the week
ECX’s trading floor has entertained the trade of 1,093,507kg with a 31.75% decrease from the prior week. The trade of Naturals accounted for 1,033,065 kg while Washed ones covered only 60,442kg, where we have seen a volume decrement for both coffees traded compared to the previous week. The volume of natural Sidamo reached 106,350 kg which has seen a 26.4% decrement of 178,825 kg compared to the previous week.
ECTA’s minimum prices for Washed Yirgacheffe G2 were 2.81, Washed limmu G2 at $2.13/lb., Washed Sidamo G2 at $2.73ib. & Natural Sidamo G4 at 1.83 in which prices increased for the above coffees Natural Sidamo G4 being the exception.
Green coffee exporters are set to use only 20% of their export foreign currency revenues which has seen a change from 40% to 20%. This will come into action by the directive, no.FXD79/2022 which has seen its third amendment since March 2021. Officials from NBE briefed, foreign currency revenue collected from commercial banks will be used to the increased foreign currency needs which the nation is incurring for prioritized imports. It is to be recalled that NBE has recently put a directive in the release of 12 bln birr loan from its reserves to in financing coffee processing & shipment.
Happy Gourmet coffee day
January 18 will see the celebration of coffee made from 100% Arabica beans yielding full-body, finest aroma & the richest flavor of a brew. As we say, Happy Gourmet coffee day & we invite you to keep an eye on our Ethiopian Arabica green specialty offers that we will start to supply in a few weeks to come.
