Coffee farmers in Uganda hold stocks

Coffee farmers in Uganda, the main producer of Robusta in Africa are holding stocks while waiting for prices to recover the farmer, reported today the Coffee Development Authority of the country (UCDA). In the report, the UCDA said prices paid to the producer of Robusta beans dried fell at least 25% in January compared to the same period of 2012.
Farmers do not feel encouraged to release stocks in the market with prices at $ 0.56 per pound. The organization added that the average price of the commodity in the international market was $ 1.91 per pound last month, up from $ 1.93 per pound in December 2012. "The harvest is coming to an end in the central region, but producers still hold the stocks waiting for better prices", said the UCDA.
The Uganda exports nearly all its coffee output in bean form, mainly to the United States, the European Union (EU) and Asian markets. The country is the largest exporter in Africa, according to the International Coffee Organization (ICO).
Source: Dow Jones