Coffee farmers earn Sh1 billion at Nairobi auction
Business
By
Boniface Gikandi
| Mar 06, 2024
The ="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=&cad=rja&uact=8&ved=2ahUKEwjup-rpmuCEAxW7gv0HHZTNAMoQxfQBKAB6BAgREAE&url=https%3A%2F%2Fwww.standardmedia.co.ke%2Fbusiness%2Fbusiness%2Farticle%2F2001484995%2Fnairobi-coffee-exchange-surge-in-auction-volumes-signals-sector-recovery&usg=AOvVaw1v0ZFZVVQfRNEzFSXNHTcl&opi=89978449">Nairobi Coffee Exchange (NCE) r In a report on the performance of the trading, the average price of a 50-kilogram bag dropped by 20 per cent to Sh33,118 ($232) from the previous Sh41,397.5 ($290) per 50kg bag. The best factories that sold their coffee above Sh58,800 ($400) are Kii, Karinga, Karatu, Karithathi, and Gatagua.
Kii from Kirinyaga County registered the highest price of Sh71,089.5 ($498) per 50kg bag. Battle royale experienced at Interbank Golf event Cheche: We have a big task at the World Cup next month KCB's Karan Patel focused on clinching Burundi Rally Africa Paves the Way for a Greener Future: Global Conference Highlights Ecosystem Revitalisation Media urged to go digital to tap shifting consumer trends Jail term, hefty fine for pastors with unregistered churches Ambitious Awuor eager to leave a mark on her World Cup debut Experts warn of bureaucratic hurdles in new movable property bill Ruto hails Parliament as his key partner Kenya Navy golfer Mochanga overcomes all odds to take command at Sea-Link Mombasa Course Murang’a-based Gatagua Coffee Society delivered 59 bags of AA for the auction, where each fetched Sh59,669.5 ($418).
NCE acting Chief Executive Officer Lisper Ndung’u in her report said in the performance at the trading Alliance Berries Limited delivered 6,621 bags that fetched $1,898,658.38, Kirinyaga Slopes 6,914 bags that generated $2,092,040 and NKPCU 5,11 bags for $1,454,426.74. “We are anticipating more coffee deliveries in the coming weeks as the harvesting is going on in some counties,” said the NCE official.
In the provision of the premier grades delivered by the marketing agents, there were 6,182 bags of AA, AB 11,825 bags, and C - 3,895 bags
In the buyers category, there were 24 players and the leading five were, C Dorman, Taylor Winch, Kenyacof, Ibero, and Sasini.
Kenya Coffee Producers Association Chairman ="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=&cad=rja&uact=8&ved=2ahUKEwjup-rpmuCEAxW7gv0HHZTNAMoQxfQBKAB6BAgNEAE&url=https%3A%2F%2Fwww.standardmedia.co.ke%2Fbusiness%2Fbusiness%2Farticle%2F2001490178%2Fis-a-new-revolution-brewing-for-farmers-with-coffee-auction-posting-record-weekly-prices&usg=AOvVaw2wv9MsvMxk9htYtA6h5Kr-&opi=89978449">Peter Gikonyo< said the auction platform has continued attracting many players since October last year. Gikonyo said the association has been holding meetings with the farmers educating them on the need to embrace the auction platform.
“In the recent past the activities at the auction have been impressive and many farmers can follow,” said Gikonyo.
Coffee Trading Expert Henry Kinyua noted that in the sale, 18,007 bags delivered were of the premier grades of AA and AB.
"Sixty-eight per cent of the grades at the exchange were of the premier quality and we encourage the farmers to nurture their crops for the best quality,” said Mr Kinyua.
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