Coffee market fetches Sh649 million in weekly auction

The weekly coffee auction fetched Sh649.4 million after the sale of 10,850 bags of coffee at the Nairobi Coffee Exchange (NCE), the amount is higher than Sh529.2 million of the previous week.

In the market, Kiganjo and Kanyariri coffee factories in Kiambu and Nyeri counties, respectively, coffee brokered by the Alliance Berries Limited achieved the highest price for each of the Sh56,075.92 for each of 24 bags of bags of grade AA.

The average price for a bag of coffee at the market was Sh47,835.

 The NCE report indicates that nine coffee brokers participated in the auction, with New KPCU leading with 3,499 bags that fetched Sh212.6 million, followed by Alliance Berries Limited, 2,818 bags bought for Sh166.1 million, Meru County, 1,047 bags (Sh63.1 million), and CEBBA, 843 bags (Sh50.6 million).

Others were KCCE 351 bags (Sh 20.1million), Kinya 499 bags (Sh31.7 million), Kipkelion 853 bags (Sh50.7 million), Minnesota 632 bags (Sh36.2 million), United Eastern 308 bags ( Sh 18.1 million).

The market report further detailed that the brokers offered 734 bags of grade AA that fetched Sh 49.9 million, and 4,674 bags of grade AB for Sh 284.7 million.

In the dealers category, NCE Acting CEO Symon Mburia's report indicated there were 15 dealers, with  Ibero Kenya purchasing  2,901 bags, followed by C-Dormans 2,412 bags, Louis Dreyfus Company 1,491 bags,  Kenyacof 1,452 bags, and Taylor Winch 1,162 bags

"The five dealers bought 84 percent of the total volume traded at the auction,” read part of the report.