M a r k e t N e w s

Coffee prices rise on export demand

Posted on : Wednesday , 28th October 2015

Tanzania’s average arabica coffee prices rose at the Moshi auction last week, buoyed by strong demand from exporters and higher New York markets, the Tanzania Coffee Board (TCB) said.
Tanzania, which ranks behind Ethiopia, Uganda and Ivory Coast in terms of output on the continent, mainly produces arabica and a bit of robusta coffee. Prices of Tanzania’s arabica normally track the New York market while those of robusta take their cue from London.

The average price for top grade arabica coffee rose to $141.99 per bag at the auction held last Thursday, up from $136 previously, the TCB said in an auction report. “Overall average prices at the Moshi exchange were up by $9.13 per 50 kg for mild arabica compared to the last auction,” TCB said.

The TCB said 22,020 bags were offered at the latest sale, compared with 25,377 bags offered at the last auction on October 8. The regulator said indicative prices at New York were up compared to the previous auction, pushing local auction prices upwards.

Source : IN 2 EAST AFRICA
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