Coffee auction earns farmers Sh800 million from 11 buyers
Business
By
Boniface Gikandi
| Apr 17, 2024
Cooperative and estate coffee farmers will get Sh802 million after their 19,804 bags of the commodity were sold at the Nairobi Coffee Exchange (NCE) this week.
The sale reflected a decline from the past market that injected Sh1 billion into the economy after the sale of 26,813 bags of the commodity.
The best price achieved was that of the Kianjiru factory where Alliance Berries Limited sold 41 bags of AA.
Another 43 bags of AA quality from the Iyego factory sold by Alliance Berries Limited a bag of the commodity was purchased by C Dormans for Sh48,576 ($368).
NCE acting Chief Executive Officer Lisper Ndung'u noted that six marketers delivered 4,121 bags of AA that were bought at Sh204.1 million, while 7,403 bags of AB were bought at Sh308.3 million.
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"The market is in good progress and I hope more coffee will be produced by the farmers and sold through the auction platform. This time there were only 11 dealers who participated in the market," said Ms Ndung'u.
Members of the Coffee Tea Parliamentary Association (Cotepa) Joseph Munyoro and Peter Kihungi said there was a need for the growers to nurture coffee trees for production of the quality grades.
Speaking separately, they said quality grades were fetching better returns from the markets.
"Am happy that many of the factories in Murang'a are working towards the production of better grades which are highly sought by the buyers in the auction markets," said Kigumo MP Munyoro.
Kangema MP Kihungi said there was a need for the county governments to ensure the farmers are guided to churn out quality produce.
"Agriculture extension officers are needed to guide the farmers to profitability," he said.
In the buyers category, Kenyacof Limited led the pack by taking home 4,382 bags at Sh175 million, with Louis Dreyfus ranked second after it bought 4,423 bags of coffee for Sh162 million.
Others were C Dorman 3,394 bags, for Sh160.5 million, Taylor Winch earned Sh145.5 million, Ibero Kenya 1,983 bags of the commodity at Sh78.6 million.
In the market, Kirinyaga Slopes delivered 7,198 bags of coffee that were bought at Sh 286 million, while Alliance Berries Limited secured Sh235 million after the sale of 5,619 bags of coffee.