Coffee drawn from various cooperative societies and estates this week earned Sh. 953 million after 26, 431 bags were traded in the Nairobi Coffee Exchange (NCE)
During the sale 31 of the coffee year 2023/2024, which was held after a one-week break, the maximum price fetched per grade AA bag of cherry was at Sh. 157 per kilo.
In the auction, 4, 230 bags which is equivalent to 259, 039 kilos of premier grade AA coffee were traded earning Sh. 188.5 million.
At the same time 7, 932 bags equivalent to 482, 932 kilos of graded AB of coffee were sold fetching Sh. 310.98 million.
According to NCE Chief Executive Officer, Lisper Ndungu ten marketing agencies participated in the auction where Alliance Berries Company led in the volume traded after selling 12, 097 bags equivalent to 734, 101 kilos at Sh. 453.57 million.
New KPCU traded 6, 168 bags at Sh. 207.83 million followed by KCCE marketing agency sold 3, 283 bags earning Sh. 110.38 million.
Kiburi coffee farm which sold 49 bags of grade AA to Kenya cof Comp
any Ltd earning the best price in the auction after selling a bag of the premier grade at Sh. 51, 234.
Gakuyuini factory with 22 bags of grade AA earned the second best price after trading a bag at Sh. 49, 5353 while Kiagothe coffee factory sold 59 bags of grade each at Sh. 47, 836.
In the category of dealers, Ibero Kenya Ltd topped other 16 buyers by purchasing the highest volume of 7, 414 bags of coffee at Sh. 237.53 million while C. Doman ltd bought 6,936 bags at Sh. 288.8 million.
Some other buyers including Luis Dreyfus Company purchased 5,681 bags of coffee at Sh. 177.24 million while Kenyacof Company Ltd bought 2,488 bags at Sh. 77.5 million.
During sensitization forums held in various counties within Mt Kenya region, coffee farmers were encouraged to produce quality coffee which has been fetching good returns in the auction.
The CEO says coffee has been earning better prices attributing this to the government’s reforms on the coffee sector.
She asked coffee factory managements to ensure farmers
get their pay without delay after the auction saying the process of payments has been streamlined by the Direct Settlement System (DSS).
The current financial year coffee auction is expected to come to close early next month with expectation that all coffee at the stores will be traded.
Source: Kenya News Agency