Coffee farmers earn Sh465.3 million from weekly auction
Business
By
Boniface Gikandi
| Aug 21, 2024
The Kenyan coffee auction fetched Sh465.3 million in the weekly sale from 12,102 bags.
The consignment weighing 745,242 kilogrammes was purchased by 17 local and international buyers.
In the market Alliance Berries and NKPCU delivered the majority bags of coffee for the auction.
The earnings in the coffee market reflected a decline compared to the previous week's performance of Sh650.7 million sourced from the sale of 12,574 bags of the commodity.
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The produce from Nduluma Coffee Factory in Tharaka Nithi marketed by NKPCU achieved the highest price of Sh46,582 per bag of grade AA.
Githembe factory in Kiambu, which sells produce sold by Alliance Berries, fetched the second-best price of Sh43,622 per bag of grade AA bought by Sasini.
In the weekly sale, Nairobi Coffee Exchange (NCE) Chief Executive Officer Lisper Ndung'u said eight brokers participated, and NKPCU delivered 2,811 bags that were bought for Sh104.2 million.
Ndung'u noted that the Alliance Berries Limited, earned Sh90.6 million from 2,318 bags of coffee at the auction.
"In the buyers category, Ibero Kenya led the pack as it bought 3,775 bags for Sh139.9 million, followed by Louis Dreyfus 2,625 bags, C. Dorman 2,146 bags," she said.
Other buyers included Taylor Winch at 1,512 bags, Kenyacoff at 828 bags, and Sasini at 446 bags.