TANZANIA – Prices up at last week’s auction

MILAN – According to the latest data released by the Tanzania Coffee Board, 37,403 60-kg bags were offered at the sale and 35,582 bags were sold at last week\’s auction at Moshi exchange.
 
Overall average price for mild arabica rose by US$10 per 50 kg and Robusta prices were up by US$3.75 per 50 kg compared to the last auction,\” the board said in its weekly report.
 
Benchmark grade AA sold at US$150.00-$269.00 per bag, compared with US$150.00-$239.00.00 per bag in the previous auction. The average price was $217.35 per bag, up from $212.79.
 
Grade A fetched $148.40-$248.00 per bag compared with $150.00-$226.00 per bag at the previous sale and got an average price of $221.35, up from $208.77 previously.
 
Last week, Primus Kimaryo, Tanzania Coffee Board marketing director, said they were expecting prices to rise in the coming auctions due to high demand as buyers compete to build stocks for their December-January 2011 contracts.