DAR ES SALAAM: Tanzania's arabica coffee prices fell at auction last week as supply of the commodity increased, regulator the Tanzania Coffee Board (TCB) said on Monday.
The state-run TCB said 29,457 60-kg bags were offered at the latest sale and that 24,095 bags were purchased. At the previous sale, a total of 22,265 60-kg bags had been offered for sale, with 18,973 bags sold.
"Overall average prices at the Moshi exchange were down by $3.37 per 50 kg for mild arabica compared to the last auction," the TCB said in its auction report.
"Average prices at the Moshi exchange were above the terminal market by $7.95 per 50 kg for mild arabica."
No robusta coffee beans were offered for sale at last week's auction due to limited harvests.
Tanzania, Africa's fourth-largest coffee producer after Ethiopia, Uganda and Ivory Coast, produces mainly arabica and some robusta coffee. Prices of its arabica normally track the New York market while those of robusta take their cue from London.
The TCB said New York markets rose by $1.49 per 50 kg, while London markets were also up by $0.55 per 50 kg.
East African coffee is normally packed in 60-kg bags, but the prices are quoted for quantities of 50 kg.
Benchmark grade AA sold at $107.00-$121.40 per 50 kg, down from $112.00-$180.00 previously. The average price was $114.81, from $120.85 at the previous auction.
Grade A fetched $110.40-$131.00 per 50 kg, compared with $105.00-$135.00 at the previous sale. The average price was $116.96, from $116.41 previously.
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