Grade of Tanzania's marquee coffee bean slips
Reduced quality and increased supply helped push down the grade of Tanzania's primary coffee, according to the Tanzania Coffee Board.
Bloomberg reports the average price for the nation's top Arabica bean slipped 5.2 percent when being auctioned on Thursday. Previously auctioned for $327.93, a 50-kilogram bag (110 pound) sold for $310.76, the coffee board stated in an email.
"Overall average prices at Moshi exchange for mild arabica were up by $10.14 per bag and robusta down by $11.74 per bag compared to the last auction held on March 10," the board said.
The auction was the 29th of the 2010-2011 season and they fell 19 percent.
Most of the supplied beans consisted of a lower quality but some higher-quality grade beans were available, according to the managing director of Taylor Winch in Moshi.
"The main problem was quality, because some of the beans had been withdrawn during earlier auctions because of poor quality," William Harris, the managing director, told the news service by phone. "The terminal market in New York was significantly down from two weeks ago."
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