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Tanzania’s Top Coffee Grade Rises as Much as 8.4% at Auction

Nov. 14 (Bloomberg) -- Tanzania’s benchmark coffee price rose as much as 8.4 percent at an auction on Nov. 10 as demand for the grade increased, the country’s Coffee Board said.

The arabica AA grade sold for as much as $341.60 per 50-kilogram (110-pound) bag, up from $315 a week earlier, the board said today in an e-mailed statement.

The average price for the grade advanced 0.3 percent to $284.22 for 50 kilograms from $283.37 the previous week after supplies increased more than 56 percent to 6,844 bags of 60-kilograms, the board said.

The average price for mild arabicas sold at the auction advanced by $1 after prices rose in New York, while robusta prices fell an average $2.74 per 50 kilograms, the board said.

Total supplies at the 11th auction of the 2011-12 season climbed 30 percent to 22,811 bags from 17,573 bags a week earlier, it said. Sales at the auction advanced 29 percent to 21,090 bags from 16,303 bags as buyers replenished stocks, the board said. Tanzania prices its coffee per 50 kilograms while offers and sales are in 60 kilogram-bags.

The country reaps its crop from April through August. Arabica accounts for 75 percent of the country’s output, while robusta makes up the rest.

The following are details of the Nov. 10 auction in U.S. dollars for a 50-kilogram bag for the good grades:

Grade            Offer   Sold      High      Low       Average
Arabica AA       6,844   6,256     341.60    245       284.22
Arabica A        2,643   2,311     297       241       280.03
Arabica AB       6,777   6,279     305       241.80    279.02
Arabica B        1,598   1,495     290       226       277.74
Arabica PB       2,397   2,240     309       240       274.94
Arabica C        2,157   2,104     262.20    209       236.01
Robusta Organic    539     539     100       100       100
Robusta Over 18 SCR  7       7      90        90        90
Robusta Superior   188     188      88        88        88
Robusta FAQ        909     909      98        86        95.50

Unwashed Arabica
Arabica Organic    730     730     197       175.20    196.19

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editors responsible for this story: Alastair Reed at areed12@bloomberg.net; Claudia Carpenter at ccarpenter2@bloomberg.net

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