Tanzanian coffee prices hit new high
The price of
Tanzania’s top-grade AA coffee beans rose to a high of $350 per 50kg at
last week’s auction, surpassing a previous record of $339.80 hit in
January, traders said on Monday.
Traders said the
new high in Africa’s fourth-largest coffee grower was on the back of
strong demand at a time of dwindling supplies, given the current
season’s crop ends in April.
“These are
unbelievable prices. Top-grade coffee is selling for an astonishing $7
a kilo,” said Geoffrey Mwangulumbi, executive director of the
Association of Kilimanjaro Specialty Coffee Growers.
“These prices
reflect the trend at the world market, where there is a huge shortage
of coffee. The prices will likely continue to rise at coming auctions,”
he said.
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