DAR ES SALAAM: The average prices of Tanzania's top grade arabica coffee fell at auction despite tight supply, taking a cue from lower prices at the New York market, the regulator Tanzania Coffee Board (TCB) said on Thursday.
The east African nation, which ranks behind Ethiopia, Uganda and Ivory Coast in output, produces mainly arabica and a bit of robusta coffee. Prices of its arabica normally track the New York market while those of robusta take their cue from London.
The average price for top grade arabica coffee was $189.84 per bag at the auction held last week, down from $191 previously, the TCB said in an auction report.
"Overall average prices at the Moshi exchange were down by $2.2 per 50 kg for mild arabica compared to the last auction," state-run TCB said.
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