Kenya coffee fetched Sh677,930,645 at the Nairobi Coffee Exchange (NCE) from the sale of 21,876 bags of the commodity during the weekly auction.
The proceeds raised is more than Sh 615.5 million which was garnered from the last week’s selling of 19,141 bags. This week’s sale attracted 19 local and international buyers, with Kiburi coffee factory’s five bags of AA fetching the highest price of Sh39,650 per bag of 50 kilogramme.
NCE Chief Executive Officer Lisper Ndung’u said in the sale C Dorman bought 4,941 bags of coffee for Sh 174,909,943, followed by Louis Dreyfus 3,724 bags Sh114,167,614.6, Ibero Kenya Ltd 3,055 bags Sh 88,555,643.8.
Kiburi produce was marketed by the Alliance Berries Limited and the second-best price was from Kirinyaga Slopes that fetched Sh39,260 per bag.
In the market, AA and AB bought for the auction were 10,298 bags out of 21,867 bags delivered by the 12 marketing agents led by Alliance Berries, Kirinyaga Slopes and New KPCU.
” The coffee delivered at the auction was sourced from 1,133 cooperative societies and estates in the counties,” said Ms Ndung’u. But the coffee value chain expert Henry Kinyua attributes the low prices at the auction from the low to the reduced presentation of top grades.
“The premier grades delivered at the market are less than 60 percent. There is a need for the production of the quality grades at the auction market to retain the high prices,” said Kinyua.
In the auction, Alliance Berries Limited had delivered 5,545 that fetched Sh166,294,752, Kirinyaga Slopes 6,437 bags Sh193,911,356, New KPCU 4,429 bags Sh150,790,936.
Other marketing agents, Murang’a County presented 437 bags that were traded for Sh 14,793,409, Minnesota 466 bags Sh13,713,289, KCCE 1,368 bags Sh43,956,543.
The average price of a 50 kilogramme bag of coffee was Sh22,880.
