Tanzania’s benchmark coffee grade rose 19 percent at the first auction of the year as supplies fell and buyers replenished stocks amid improved global prices, the Tanzania Coffee Board said.
The average price for the arabica AA grade climbed to $273.86 a 50-kilogram (110 pounds) bag from $229.62 at the last sale of 2011, the board said in an e-mailed report today. The grade sold for as much as $331 a bag, compared with $316.80 at the previous sale, and supplies of it plunged 65 percent to 2,092 bags, the report showed.
Farmers in the country reap their crops from April through August. The arabica variety accounts for 75 percent of production and robusta makes up the rest.
Following are details of the Jan. 13 auction in U.S. dollars for a 50-kilogram bag for good grades:
Grade Offer Sold High Low Average Arabica AA 2,092 1,564 331 201.20 273.86 Arabica A 1,408 896 295 206.20 266.67 Arabica AB 1,540 1,516 294 236 275.53 Arabica B 1,417 1,083 292 200 250.21 Arabica PB 893 612 296 201.80 247.60 Arabica C 873 855 265.60 205 230.58
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