Farmers earn Sh376 million as coffee auction resumes

The coffee auction resumed on a low note after two months recess, with the estate and cooperative farmers earning Sh376 million after the auction of 7,887 bags at the Nairobi Coffee Exchange (NCE).

NCE report reflects the sale generated less compared to Sh377.64 million from the sale of 6,650 bags on May 6 when the auction closed for recess.

In the dealers category, the NCE CEO Lisper Ndung’u reported that 20 participated, led by Louis Dreyfus that bought 2,315 bags at Sh108 million, Ibero Kenya 1,726 bags  for Sh79.2 million, Sasini 1,083 bags for Sh54.2 million, C.Dormans 1,028 bags for Sh53.3 million, among others.

“The average price per bag of coffee that was delivered in the auction was Sh38,557,” said Ms Ndung’u.

Kipsinende factory grade AA sold by the Kipkelion achieved the highest price of Sh47,008, followed by Lopino estate coffee marketed by the Alliance Berries achieved the second best price of 43,771, Fimbu Estate coffee brokered by CEBBA fetched Sh42,476 among others.

In the brokers category, 10 coffee brokers participated led by Kipkelion with 1,424 bags for Sh70,459,367, New KPCU 1,383 bags (Sh69.6 million), United Eastern 1,217bags (Sh55.8 million), Kinya 1,005 bags (Sh48.4 million) and Minnesota 657 bags (Sh30.5 million).

Alliance Berries 633 bags traded for (Sh29.2 million), CEBBA 589 bags (Sh 27.7 million), Mt Elgon 651 bags (Sh31.3 million), and KCCE 243bags ( Sh48.4 million) and Baringo 45 bags (Sh3.9 million).

The majority of the coffee officials at the societies said they presented to the market coffee that was delayed in the millers.