Nairobi Coffee Exchange (NCE) in the 23 auction platforms have facilitated the sale of 293,676 bags, out of the 357,037 that have been collected from the cooperatives and estates farmers.
In the latest report from the management of the NCE, the consignments sold between August 15 last year and March 12, have earned the growers a total of $79,179,714.90.
In the details provided, in the inaugural sale to celebrate commissioning of the coffee regulations 2019, that was presided by Deputy President Rigathi Gachagua,only 3,773 bags of coffee were bought out of the consignment of 3,773 bags that the marketing agents had delivered.
NCE acting Chief Executive Officer Ms Lisper Ndung’u says the activities at the auction have been impressive as the number of bags of coffee presented have been on the rise since August.
In the first sale (Sale 30) the buyers spent $35,615.56 while March 12, (Sale 20) out of the 20,281 bags of coffee delivered, 18,155 bags were bought at Sh984.8 million ($5,275,905.25)
In the performance of the marketing agents, for the period between October and December last year, the NCE lists 10 marketing agents licensed by the Capital Markets Authority (CMA) to had traded with 96,097 bags of coffee, that earned the growers a total of $21,914,177.68.
In the list the leading in was NKPCU that traded 32,726 bags of coffee at $7,519,832.92 followed by Alliance Berries with 21,656 bags of coffee for $4,999,519.96.
NCE reports further details that other agent Bungoma in the period delivered 210 bags, KCCE 6,935 bags, Kiambu 2,727 bags, Kinya 5,985 bags, Kipkelion 10,538 bags, Meru County 6,372 bags, Mt Elgon 4,936 bags and United Eastern 3,989 bags.
“We are projecting that in the coming years there will be increased production of coffee to keep the auction platform busy as it has been since August 15 last year,” said Ms Ndung’u.