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Coffee auction slumps slightly

According to auction results, prices for mild Arabica went down by 11.67 US dollars (18,088.5/-) for a 50 kg bag while Robusta dropped by 11.33 US dollar (about 17561.5/-) for a 50 Kg bag.

“The amount offered at the market was 35,962 bags but a total of 33,124 bags of 60 kg each were sold as the average prices were below the terminal market by 6.27 US dollars for mild Arabica for a 50 kg bag,” stated the auction results.

The prices for Robusta were above the terminal market by 6.96 US dollars (about 10,788/-) for a 50 Kg bag. The New York (ecember delivery were down by 4.15 cents, equivalent to 4.57 US dollars (about 685.5/-) for a 50 kgs bag and London (LIFFE) market for November supply were up by 120 US dollars per metric tones, equal to 6 US dollar (about 9300) for a 50 kgs. Tanzania is the fourth-largest coffee grower in Africa after Ethiopia, Uganda and Ivory Coast.

The country produces mainly Arabica and some Robusta coffee grown from rich volcanic soils and famous worldwide for its unique aroma. Prices of its Arabica coffee normally track the New York market, while those of Robusta take direction from London.

East African coffee is normally packed in 60-kg bags but prices are quoted for quantities of 50 kg. At total of 11,966 bags out of 12,573 grade AA of mild Arabica exchanged hands at a maximum of 189.20 US dollars (about 293,260/-)and 170.40 US dollars (about 264,120/-) per bag.

In the meantime, the average price declined to 174.59 US dollars (about 270,614.5/-) compared to 188.40US dollars (about 292,020/-) bag of the previous market.

For grade A fetched 182.40 US dollars (about 282,720/) per bag as maximum price and 169.80 US dollars (about 263,190/-) minimum with the average price falling to 173.63 US dollars (about 269,126.5/-) per bag compared to 184.43 US dollars (about 285,866.5/-) in previous trading. The next auction will be held tomorrow.

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