The price of a 50 kilo bag of coffee dropped from Sh11,400 to Sh11,211
in the latest sale held on Tuesday at the Nairobi Coffee Exchange (NCE).
FILE PHOTO | NMG
Coffee prices at the Nairobi auction declined marginally this
week, reversing the 11 per cent rise that was registered in the previous
week’s sale.
On average, the price of a 50 kilo bag
dropped from Sh11,400 to Sh11,211 in the latest sale held on Tuesday at
the Nairobi Coffee Exchange (NCE).
The value of the
Kenyan coffee has generally depreciated in the last couple of months
after registering impressive results between January and February due to
high quality coffee supply from farmers.
According
to the NCE, the quality of beans offered this week declined compared
with the previous sale, pushing the price of the commodity down.
“There
was a slight decline on quality in this week’s trading compared with
the previous one, a move that pushed down the price marginally,” said
the NCE.
Coffee trading at the auction has been coming
in from the main crop season in Central Kenya, which is now coming to
an end with quality expected to pick in July with arrival of short crop
from Eastern Kenya.
Kenya’s earnings from coffee
dropped by Sh1.3 billion between October and March compared with the
same period last year, on account of low international prices and
reduced volumes at the auction.
The low prices are also set to affect listed agriculture firms dealing in coffee.
Earnings
dropped by Sh1.4 billion in seven months to April compared with the
same period last year, on account of low prices for Kenya’s Arabica at
the international market.
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