Coffee farmers earn Sh653 million at Nairobi auction
Business
By
Boniface Gikandi
| Jan 10, 2024
Activities at the ="https://www.standardmedia.co.ke/business/business/article/2001488426/nairobi-auction-reopens-on-tuesday-as-firms-release-23056-bags-of-coffee">Nairobi Coffee Exchange (NCE)< resumed after the festive season with 20 buyers earning farmers Sh653 million for 17,298 bags of coffee.
The sale was lower compared to the price of Sh853 million that the facility raised on December 15, last year when it closed for the festive season.
According to the details obtained during Tuesday’s sale, the average ="https://www.standardmedia.co.ke/business/business/article/2001484995/nairobi-coffee-exchange-surge-in-auction-volumes-signals-sector-recovery">price of a bag of coffee was Sh31,078<.
New Kenya Planters Cooperative Union (NKPCU) presented 5,296 bags that were bought at Sh203,571,414.3, while Alliance Berries Limited managed to sell 4,213 bags at Sh159,555,332.4.
Kirinyaga Slopes, in its third time in the market earned the farmers Sh117,499,186.5 from 2,831 bags of coffee.
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In the sale, Taylor Winch (Coffee) Limited bought 3,551 bags of coffee, followed by Kenyacof Limited 3,107 bags.
Dorman Ltd was third managing 2,3,05 bags while Sasini Limited had 846 bags. Ibero Kenya and Louis Dreyfus Company presented 2,227 bags and 1,641 bags respectively.
Kigumo MP Joseph Munyoro, a member of the Coffee Tea Parliamentary Group (Cotepa), said there was need for growers to increase the production of the commodity as the government explores markets for the produce.
“The price offered in the market was relatively low but farmers should work towards increasing the production as the government was moving out of its way in search of new markets for the produce,” said Munyoro.
He said he was delighted that majority of Murang’a cooperative societies were disposing of their coffee through the NCE.
The Kenya Coffee Producers Association, chairman Peter Gikonyo said the presentation at the NCE platform was encouraging as cooperative societies were participating.
“Following the sensitisation programmes held since October 1, last year we expect more trading activities thus increased earnings for farmers,” said Gikonyo.