Coffee in the weekly auction at the Nairobi Coffee Exchange (NCE) fetched Sh1,022,939,536.5 from the sale of 25,180 bags of the commodity sourced from 1,001 cooperatives and estates.
The proceeds are less compared to the last weeks of Sh1,057,113,511.20 from the sale of 26,449 bags.
In the sale, Konyu coffee factory in Kirinyaga achieved the price of Sh54,540 per bag of AA, while Iyego factory from Murang’a managed Sh50,895 both sold through the Alliance Berries Limited.
The 132 bags of AA quality from Konyu and Iyego factories were bought by C-Dormans. Another 51 bags of AA from Kiunyu coffee factory through the Kirinyaga slopes sold at Sh46,170 per 50 kilogrammes bag.
NCE Chief Executive Officer Ms Lisper Ndung’u said in the sale the marketing agents delivered in the auction 6,742 bags of AA and 11,124 bags of AB accounting for 71 percent traded at Sh765,243,871.2.
Farmers affiliated to Konyu, Iyego and Kiunyu, she said, have achieved the highest prices in the auction market.”Demand for the premier grades has been on the rise, thus the need for the farmers to be encouraged to continue producing the best commodity to attract the market,” said Ms Ndung’u.
Kangema MP Peter Kihungi said it was impressive that the majority of the coffee factories across the 33 coffee producing counties have been participating in the market.
” Am delighted to observe that Iyego Cooperative society from Kangema achieved the second-best price of Shh50,895 ($377) per bag of AA,” said Kihungi.
COTEPA Chairman Dancan Mathenge said the coffee sector was recovering through impressive prices at the auction market. “The government is working towards looking for more coffee buyers,” said Mathenge, while speaking in Nyeri
In the broker’s performance, Alliance Berries Limited topped the list with 9,027 bags that fetched Sh401,288,466.6, while the Kirinyaga Slopes Sh205,167,937.5 after the sale of 5,384 bags of coffee.
NKPCU achieved Sh 218,893,395.6 for 5,209 bags of coffee. In the coffee dealer’s category, Kenyacof Limited lead the pack buying 5,934 bags for Sh246,815,205.3, followed by C Dormans 5,127 bags at Sh236,464,685.1, Ibero Kenya traded 3,578 bags for Sh137,747,069.1.
Other Louis Dreyfus 3,526 bags Sh128,726,852.4, Taylor Winch spent Sh105,375,810.6. In the market, Faina Enterprises Ltd bought four bags and ranked the least at Sh 174,069
Minnesota Coffee in its first entry into the auction market managed to sell 564 bags of the commodity and raised Sh 21,306,971.7 and Murang’a Coffee collected Sh15,291,520.2 for the sale of 393 bags of coffee.
Others were Kipkelion 608 bags for Sh22,172,915.7, Kinya Coffee fetched Sh39,343,147.2 after the sale of 1,186 bags, Kiambu Coffee got Sh 359,097.3 from the sale of eight bags. KCCE sold 2,527 bags for Sh 88,763,742.