Kenyan coffee farmers made Sh1,307,341,753.19 from the sale of 27,043 bags of coffee at the Nairobi Coffee Exchange (NCE).
Experts in the coffee market rank Tuesday’s delivery of the 27,043 bags as the highest volume of the commodity in the market since August 15, last year.
In the auction, NCE Acting Chief Executive Officer Ms Risper Ndung’u said the proceeds exceeded last week’s payment of Sh822.5, where 16,468 bags were sold.
She said the eight marketing agents delivered 1,654,657 kilograms of the commodity at the NCE which attracted 23 buyers.
“ The activities at the NCE have gained momentum with more cooperative societies and estates using the NCE trading platform,” said Ndung’u.
In the market, C-Dorman bought 8,690 bags, Kenya Cof 6,338 bags, Ibero Kenya 5,410 bags, Louis Dreyfus 1,592 bags, and Sasini 1,407 bags.
Kirinyaga Slopes made Sh422.7 million for 7,809 bags Alliance Berries Sh376.9 million for 7,157 bags and NKPCU Sh280.7 million after selling 6,777 bags.
On Saturday, speaking in Kinyona, Murang’a, Deputy President Rigathi Gachagua said the coffee market had stabilized with farmers earning their proceeds following the reforms initiated by the government.
Kenya Coffee Producers Association Chairman Mr Peter Gikonyo said the farmers are keen on the market as coffee production is set to increase.
Gikonyo said farmers are actively involved in increased production pleading with the government to explore more markets.
“The association has been visiting farmers in their farms educating them on the need to pursue the reforms, for better payment as per the regulations,” said Gikonyo.
Henry Kinyua, a coffee trading expert says the sale reflected an increase of 16 percent as compared to the previous where the marketers delivered 16,468 bags.
“The average price of the commodity declined to Sh39,556 per 50 kg bag down from the previous of Sh40,194 per bag,” said Kinyua.
Murang’a Coffee Dealer sold 300 bags for Sh12.6 million and was in the trading platform for the third time since August 15 last year.
other marketing agents in the sale performed as follows
Mt Elgon 1,189 bags, Sh45,2million
Murang’a County 300 bags, Sh12.6million
NKPCU 5,777 bags, Sh280.7million
United Eastern 603 bags, Sh21.3million.
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