Trade through the Ethiopian coffee week
ECX’s floor ended with the export-grade trade of 52,228kg natural coffees few kgs higher from the previous week. The trade of Natural Sidamo covered over 41.5 % with 21,675kgs with keffa, Bench & Godere coffees covering the remaining portion. Vertical purchase price increments seem to perpetuate across Ethiopia’s core natural coffees except for Lekempti coffee. The vertical price for Natural Sidama was around $2.86/Ib. with $0.04/Ib additional from the previous week, Natural Djimmah price went to $2.06/Ib with $0.04/lb increment while Natural Lekempti price was remained to be $2.12/kg similar to the previous week.ECTA's minimum prices for selected naturals have been going Natural Sidamo G4 at $1.99/Ib.,Natural Djimmah G5 at $1.73/Ib.& Natural Lekempti G5 at $1.75/Ib, in which prices remained similar to the prior week for these coffee types.
Ethiopia’s green coffee export shipments have brought $746.8 million over the past 8 months. ECTA planned to earn $ million by exporting 157,000 MT of green coffee in the past 8 months & concluded by shipping 183,155 MT which has seen more than 14% increment compared to the same time of 2020/21. Revenues have also seen up 143% above projections compared to the same period last year, the shipment volume increased by 59,010 MT while the revenue increased by $299.01million. February’s shipments were recorded to be 20,337MT with a sales revenue of $101.5 million which has increased by 41% compared to the same period of the prior year. ECTA’s deputy DG Mr.Shafi also added increased Ethiopian green coffee imports by Taiwan, Russia & China had a significant contribution to the growth in sales revenues. Import volumes by Germany, Saudi Arabia & Japan took the ranks 1-3.
ICO’s February Composite Indicator of Prices(CIP) rose to $210.89/Ib.seeing 17 consecutive months' price increments. This has been recorded amidst the Rusia-Ukraine war, countries which consumed 6.26 million bags (3.8%) of the global coffee consumption in 2020.
Additionally, ICO reported global exports in January 2022 rose to 10.86 million bags, compared to 10.64 million bags in January 2021. Green coffee exports from the first four months of 2021/22 also increased to 4.04million bags (2.4%). Asia’s & Oceania’s imports for these African green coffee beans also grew to 14.69 million bags by(20.7% increase) compared to the same period of 2020/21 coffee year. Uganda took first place shipping 1.95 million bags, an increase of 12.9% while Ethiopia’s shipment saw a 30% increase to 1.04 million bags compared to 202/21’s same period taking the second place.
