Coffee market nets Sh2.4 billion in weekly auction

The weekly coffee auction fetched Sh2.4 billion from the sale of 39,853 bags compared to 40,918 bags last week.

In the market controlled by the Nairobi Coffee Exchange (NCE), the 13 coffee brokers presented 12,566 bags of grade AA and 18,596 bags of grade AB.

The report further indicated that out of the 13 coffee brokers, Alliance Berries Limited offered the highest volume of 14,426 bags that netted Sh890.3 million, followed by Kirinyaga Slopes with 7,068 bags that were bought at Sh470.6 million.

Mathira based Ichuga Factory achieved the highest price of Sh64,500 for each of the 51 bags of grade AA, marketed by the Alliance Berries Limited.

Other factories that achieved impressive prices are Gakuyu-ini at Sh61,536, Wahundura Sh61,536, Gachatha-ini Sh60,256 per bag of grade AA.

According to the report, there were 12,566 bags accounting for 35 per cent, with grade AB coffee dominating the auction of 18,596 bags (47 per cent).

NCE CEO Lisper Ndung’u appreciated the high volumes presented in the market by the coffee brokers, saying that the impressive prices could last for the next two months.

“It's also worth noting that the market has continued offering certified coffee that has also been attracting better prices,” said Ms Ndung’u.

In the dealers category, the NCE CEO noted that six buyers participated, led by Ibero Kenya with 12,039 bags, Kenyacof 7,170 bags, C. Dormans 6,607 bags, Sasini 4,808 bags, Taylor Winch 4,031 bags, and Louis Dreyfus 2,095 bags bought 83.7 per cent of the coffee offered in the auction.

 “In the auction 17 local and international coffee buyers participated thus need to increase the number to offer the farmers better prices in the future,” said the CEO.

Other brokers were CEBAA 1,595 bags, New KPCU 3,976 bags, Kipkelion 3,114 bags, KCCE 2,797 bags, Minnesota 1,585 bags, Murang'a 1,573 bags, Mt Elgon  627 bags among others.