Farmers reap returns as NCE closes for Christmas and new year
The Mountain Journal
Coffee cooperatives and estates earned Sh823.4 million after they sold 23,167 bags at the Nairobi Coffee Exchange (NCE) on Tuesday as the auction platform closed for Christmas and New Year festivities.
The coffee auction resumes on January 2, according to the information posted on the NCE website.
In the sale 10, the leading brokerage utilities were Alliance Berries which delivered 4,827 bags, NKPCU 4,529, and Kirinyaga Slopes 4,429 bags of coffee earning the growers Sh153,221,965 ($995,594.32), Sh165,995,641 ($1,078,594.16) and Sh177,315,414 ($1,152,146.94) respectively.
The average price per 50Kilogramme bag was at Sh 29,890.458 up Sh 28,612 from last week.
It was the second time for the Kirinyaga Slope to trade in the coffee auction since it obtained a license from the Capital Market Authority (CMA).
The local and international buyers, Kenyacof Limited purchased 7,519 bags, Ibero Kenya 4,252 bags, C Dorman 3,935, and Sasini 3,281 bags.
Global Mark Foods bought two bags, while Fair to Good had 16 bags.
Kenya Coffee Producers Association Chairman Peter Gikonyo said the increased activities at the auction market follow the leaders mobilizing the farmers in their backyard.
Gikonyo said since October there has been an increase in bags delivered by the marketing agents to the market.
“There is competition among the cooperatives in the auction and hopes more buyers will next year participate in the market and offer better prices,” said Gikonyo.
Murang’a MPs Joseph Munyoro (Kigumo) and Peter Kihungi( Kangema) said there is a need for the coffee farmers to increase production to reap more benefits from the market.
Munyoro said it was worth noting that theft of the commodity has been reduced in the factories after the cooperative societies managed to embrace the auction market.
“We anticipate more production between January and February following the heavy rains that pondered coffee belts in October and November,” said Munyoro.
Kihungi on his part said the Coffee and Tea Parliamentary Group (Cotepa) was encouraging the small-scale farmers to take advantage of the market.
“Farmers should avoid hawking their commodity despite the temptation, and sell it directly to the buyers or through the auction market,” said Kihungi.
Other brokerage firms presented to the market were Kipkelion 3,402 bags, KCCE 2,866 bags, Mt Elgon 1,102 bags, United Eastern 1,016 bags, and Kinya Coffee 961 bags.
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