The price of coffee in the world market has been falling since last November. FILE PHOTO | NMG
The transacted value of Kenya’s coffee continued to drop this
week, losing marginally by Sh400 from the previous sale as the global
prices remain low.
A market report by the Nairobi
Coffee Exchange (NCE) indicates that a 50-kilogramme bag of coffee
fetched Sh11,400 in the weekly trading, down from Sh11,500 in the
previous sale.
The trading also saw Kenya’s premium
coffee grade AA lose its value this week to Sh15,400 down from Sh16,200
that was recorded last week for a 50-kilogramme bag.
The
Coffee Directorate has asked Kenyans to consume coffee and cut reliance
on export in order to cushion the price from external shocks.
“If
we had increased the local share of our consumption, then this would
have helped in cushioning us against the price volatility,” said
Isabella Ngonge, the head of the directorate.
The price
of coffee in the world market has been on a decline since last November
when it hit a low of 113 cents a pound before sliding further this week
to 98 cents per pound. Kenya has one of the best coffees in the world.
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