Region: Tanzanian Coffee prices firm at Moshi aution

Oct 3
Tanzanian coffee prices firmed slightly at last week's auction as buyers sought to cover their positions ahead of a Muslim holiday, traders said on Wednesday. The Tanzania Coffee Board (TCB) said 46,150 60-kg bags were on offer on Thursday last week, with 44,984 sold. In the previous week's sale, 32,623 60-kg bags were offered for sale, with 16,926 sold.

Benchmark grade AA sold at $175-$129.40 per 50-kg bag, compared with $170.00-$130.00 per bag at the last auction. Grade A was bought at $170-$133 per 50-kg bag, compared with the previous week's $152.40-$129 per bag. "The quantities on offer were quite handsome. Generally, prices were very firm. It could be mainly (due to) shippers who are short of coffee," said Kennedy Keya, a trader with Dorman Tanzania.

"The quality is good. Prices may have been firm because there's no auction in Tanzania (this week) so many people are trying to cover their short positions." Tanzania largely produces arabica coffee but also grows robusta, thriving mostly in the northern, southern and western parts of the country in areas around Mount Kilimanjaro and Lake Victoria. The auction, held in Moshi took place on last week but TCB released the results on Wednesday.