Coffee market nets Sh 2.4 billion in the weekly auction

The Mountain Journal

Kenya’ s weekly coffee market Sh 2.4 billion after the buyers bought  39,853 bags of the commodity.

Nairobi Coffee Exchange (NCE) reported that during Tuesday’s auction 13 coffee brokers offered 12,566 bags of grade AA and 18,596 bags of grade AB which attracted the buyers.

Alliance Berries Limited offered the highest volume of 14,426 bags  for Sh 890.3 million, and Kirinyaga Slopes with 7,068 bags that were bought at  Sh 470.6 million.

 Ichuga Factory located in Mathira achieved the highest price of Sh 64,500 per grade of AA for each marketed by the  Alliance Berries Limited.

 The report also underscores that  there were  12,566 bags of grade AA that accounted  for for 35 percent followed by  AB grade coffee dominating the auction of 18,596 bags ( 47 percent).

NCE CEO Lisper Ndung’u appreciates the high volumes presented in the market by the coffee brokers saying the impressive prices could last  for the next two months.

“ It’s also worth noting that the market has continued offering certified coffee that has also been attracting better prices,” said Ms Ndung’u.

 In the dealers category, Ms Ndung’u adds that six buyers led by Ibero Kenya with 12,039 bags, Kenyacof 7,170 bags, C.Dormans 6,607 bags, Sasini 4,808 bags, Taylor Winch 4,031 bags,Louis Dreyfus 2,095 bags bought 83.7 percent of the coffee offered in the auction.

 among others.

“ In the auction 17 local and international coffee buyers participated thus need to increase the number to offer the farmers better prices in the future,” said the CEO.

Other brokers were CEBAA 1,595 bags,New KPCU 3,976 bags.Kipkelion 3,114 bags,KCCE  2,797 bags, Minnesota 1,585 bags, Murang’a 1,573 bags, Mt. Elgon  627 bags among others.