Coffee sold at Moshi Exchange increased to 7,668 bags compared to 5,564 bags of the previous auction supported by price surge driven by high global demand.
According to the auction results released by the Coffee Board of Tanzania (TCB), the overall average prices were up by 5.85 US dollars per 50 Kgs bag for Mild Arabica compared to an increment of 0.95/50US dollars for the same volume in the previous auction.
The Bank of Tanzania (BoT) monthly economic review for December shows that the prices of coffee (Arabica) went up mainly due to high global demand. Moshi Exchange average prices were above the terminal market by 4.03 US dollars per 50 for Mild Arabica.
The amount of coffee supplied at the Moshi Exchange increased to amount offered 9,759 bags in the last auction compared to 6,709 bags offered in the previous session.
The New York coffee May delivery were up by 3.35 US dollars equivalent to 3.69 per 50kgs Free on Board and London (LIFFE) market May delivery were up by 12 US dollars per metric tonne equivalent to 0.60 per 50kgs FOB compared to last week terminal market.
According to the TCB, the next auction will be held today.