Money Markets
Kenya made no coffee sales at Tuesday’s (May 27, 2014) auction because of high offer prices. Photo/FILE
By Bloomberg News
Kenya made no coffee sales at Tuesday’s auction because of high offer prices, the Nairobi Coffee Exchange said.
The average price for all the coffee rose to
$237.33 for a 50-kilogram bag from $208.41 a week ago, the exchange said
by e-mail.
The benchmark AA grade average was $329.69 a bag compared with $312.14 at the previous sale.
“We had only one catalog and the
reserve prices were high,” Daniel Mbithi, the exchange’s chief executive
officer, said by phone from Nairobi. “The quality was good.”
A catalog is a package of beans from one supplier.
Supplies at the auction fell 76 per cent to 4,842 bags from 20,451 bags, it said.
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