The Mountain Journal
Nairobi Coffee Exchange (NCE) in coffee year 2023/2024 generated Sh25. billion from the auction of 693,610 bags of coffee in the year ended on September 30.
In a NCE report dated October 3 three coffee brokers, Alliance Berries Limited, New KPCU and Kirinyaga Slopes took the lead in the presentation of coffee at the auction market.
Alliance Berries Limited presented 201,986 bags for Sh7.3 billion during the period, followed by New KPCU with 154,260 bags for Sh5.2 billion, and Kirinyaga Slopes 124,761 bags that generated Sh4,8 billion
NCE CEO Lisper Ndung’u said there were a few challenges that the regulator resolved in accordance with the regulations.
“ We continue encouraging the farmers to produce quality grades of AA and AB that attract the local and international buyers,” said Ndung’u.
The cooperative societies backed brokers, KCCCE earned the growers Sh1.8 billion from the sale of 52,603 bags, followed by Kipkelion Sh1.4 billion for 45,656 bags.
Kenya Coffee Producers Association (KCPA)says in the year there were hurdles that were affected by the sale of the commodity and the majority were resolved.
KCPA Chairman Peter Gikonyo said delayed remittance of resources to the farmers through the societies remained the major challenge.
“There is a need for the regulators to recruit more players to receive payment from the buyers as stipulated in the regulation and remit the same to the farmers through the Direct Settlement System (DSS),” said Gikonyo.
Other coffee brokers, Minnesota Coffee that generated Sh424.4 million after selling 11,974 bags, added to the end of the coffee year report.
Coffee societies backed marketing agents in the year performed as follows, Baringo Kawa generated Sh98.9 million for the sale of 2,801 bags, Bungoma Sh71,357,413 for 2,263 bags, , Kiambu Coffee Sh572.2 million for 16,725 bags.
Kinya Coffee sold 26,184 bags of the commodity that fetched Sh759.4 million, ,Meru Coffee Sh782.6 million for 22,196 bags , Mt Elgon Sh44.8 million for 14,006 bags, Murang’a Coffee Sh142.4 Million for 4,109 bags, and United Eastern Sh24.5 million for 14,086 bags.
The report also indicated that in the year, 48 coffee buyers bought 123,776 bags of grade AA for Sh5,825,920,168, and 260,221 of AB worth Sh9,902,208,299 and 122,706 of grade C of Sh 3,838,618,200.
In the report Ibero Kenya bought 143,625 bags and the highest volume Sh4.7 billion, C Dorman 119,057 bags for Sh4.9 billion, Kenyacof Sh4 billion for115,352 bags,Louis Dreyfus Sh2 billion for 80,675 bags,Taylor Winch Sh2.6 billion for 71,442 bags and Sasini Sh1.9 billion for 51,894 bags.
