Farmers, firms net Sh800m from coffee auction
Business
By
Boniface Gikandi
| Mar 14, 2024
Deputy President Rigathi Gachagua rings the bell during the re-opening of the Nairobi Coffee Exchange Auction brokers' maiden sale at Wakulima House Nairobi on 15 August 2023. [DPCS]
Kenya's coffee fetched Sh817.3 million at the Nairobi Coffee Exchange (NCE) from the sale of 20,281 bags, down from Sh1.3 billion raised during last week's auction.
Tuesday's auction attracted 20 buyers and received fewer bags compared to last week's 26,328 bags of the commodity.
In the auction, marketing agents Alliance Berries Ltd, Kirinyaga Slopes, and New Kenya Planters Cooperative Union (NKPCU) delivered 13,629 bags.
READ MORE
MPs pass Bill banning hospital detention over unpaid bills
Kenya begins 42-day countdown to Ebola-free status
KRA moves to enforce 15 per cent minimum tax on multinational companies
When voters speak, politicians must listen: Lessons for Kenya in US midterm elections
State approves Sh96.95 M compensation for 157 protest victims
Trials intersex children undergo in quest for identity, acceptance
Mr President, you can't concede today and rewrite history tomorrow
NCE Acting Chief Executive Lisper Ndung'u said in the auction the marketing agents, including Alliance Berries Ltd, sold 4,450 bags that fetched Sh187.4 million; Kirinyaga Slopes 5,267 bags for Sh216.5 million, and NKPCU 3,922 bags for Sh159.2 million.
"In the marketing of the premier grades at the auction, 4,725 bags of AA fetched Sh232 million for 9,073 bags of AB Sh367.1 million, and 3,199 bags of grade C sold for Sh99,963.6 million," said Ms Ndung'u.
The produce was collected from 907 coffee cooperative societies and estates in the counties.
In the market analysis, the Kii factory in Kirinyaga allied to Kirinyaga Slopes sold 13 bags with each fetching Sh64,357 ($463).
At Gathiru-ini factory affiliated with Alliance Berries Ltd 89 bags of AA fetched Sh49,345 ($355) per bag of 50kg.
The buyers led by Kenyacof bought 5,359 bags of coffee at Sh209.7 million, followed by C Dorman's 3,784 bags for Sh168.4 million, Ibero Kenya's 3,878 bags for Sh134.8 million, Sasini's 2,276 bags for Sh94.4 million, among others.
Kigumo MP Joseph Munyoro, a Coffee Tea Parliamentary Group (COTEPA) member, said the farmers are interested in better income from their produce.
"There is a need for the government to explore new markets for our coffee to attract more returns to the farmers," said Mr Munyoro.
Kenya Coffee Producers Association Chairman Peter Gikonyo said there is a need for the farmers to sell their coffee through the government-backed platform.
"In the last three months, the number of coffee bags sold at the NCE has been on the rise, with farmers getting better income based on their grades," said Mr Gikonyo.
Kenya pays more to move cargo as corruption, delays drive up costs, World Bank says
The World Bank report attributes the higher costs in Kenya to inefficiencies along the Mombasa-Nairobi transport corridor.Co-op Bank offers 90pc electric vehicle financing to matatu Saccos in green lending push
Co-operative Bank of Kenya has announced it has set aside Sh1.5 billion to finance the acquisition of electric public service (PSV) vehicle fleets by matatu Saccos.Vipingo Ridge leads Kenya's double triumph at World Golf Awards
Kenya celebrated a double triumph at the 2026 World Golf Awards after Vipingo Ridge was named Africa’s Best Golf Real Estate Venue, while Kenya won the continent’s Best Golf Destination.Nusrat Mohammed: The woman who made saving abused animals her calling
Nusrat Mohammed says every vaccination is an opportunity to change perceptions, save lives, and strengthen the connection between animal welfare and public health.One shot, no mistakes: How digital tech has killed the art of old-school filmmaking
Filmmaking depended on specialised equipment, technical precision and close coordination between camera, sound and laboratory teams.MOST READ
Kenya pays more to move cargo as corruption, delays drive up costs, World Bank says
BUSINESS