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Price for traditional exports shining at global market
2008-05-09 09:09:44
By Beatrice Philemon
Prices for Tanzania`s traditional exports are on the average rosy at the world market, with some few exceptions.
The trend kept shining until March this year, according to latest Bank of Tanzania (BoT) report.
It cites the price of cloves which had shot up by 15.6 percent to USD 5,200.00 per ton, largely on account of decline in production from Zanzibar, Sri Lanka, Indonesia and Madagascar.
However, the price of sisal remained unchanged at USD 1,025.0 per metric ton, while that of tea declined.
Robusta coffee recorded a slight price increase to USD 2.7per kg, while the price of Arabica coffee recorded a slight decline to USD 3.3 per kg.
The marginal price increase for Robusta coffee prices was partly a result of the decline in the global coffee stocks as the result of the effect of biennial cycle on coffee production in Brazil.
Cotton prices improved as well due to the reduction in cotton acreage in US coupled with the surge in demand of cotton from China.
In addition, the prices of crude oil (UK Brent), Dubai (f.o.b) and white products recorded modest increases to USD 101.8 per barrel, USD 96.8 per barrel and USD 952.6 per ton, respectively.
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