By Jason McLure
Bloomberg
March 7, 2008
Ethiopian premium coffee grades rose 8.9 percent to 16 percent in the 30 days through Feb. 7, as exports more than doubled, the Agriculture Ministry said.
The price for Harar Grade Five rose 16 percent to $4,231.38 a metric ton during the period, which corresponds with the fifth month of the Ethiopian calendar. Yirgacheffe Grade 2 climbed 15 percent to $4,632.08 a ton and Sidamo Grade 2 increased 8.9 percent to $3,536.64 a ton, the ministry said in an e-mailed statement from the capital, Addis Ababa, today.
Total coffee exports from Africa's largest producer of the beans more than doubled during the month to 12,722 tons, the ministry said. The value of exports was $40.3 million, from $17 million a month earlier, the ministry said.
Saudi Arabia, Germany, and the U.S. were the three largest buyers of Ethiopian coffee during December, accounting for more than half of the country's sales during the month, it said.
Coffee is Ethiopia's largest export, accounting for one- third of export revenue in the seven months through January, according to the Horn of Africa country's Ministry of Trade.
The following are prices paid by exporters for coffee shipments in U.S. dollars per metric ton:
Coffee Type // Grade // Price // Percent Change
Yirgacheffe 2 = $4,632.08 // +13.8%
Harar 5 = $4,231.38 // +15.5%
Sidamo 4 = $3,132.20 // +0.0%
Sidamo 2 = $3,536.64 // +8.9%T*
To contact the reporter on this story:[bn:PRSN=1] Jason McLure [] in Addis Ababa via the Johannesburg bureau at abolleurs@bloomberg.net.
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