advertisement

News

Coffee prices fall amidst low supply at the NCE

Nairobi Coffee Exchange chief executive Daniel Mbithi. FILE PHOTO | NMG
Nairobi Coffee Exchange chief executive Daniel Mbithi. FILE PHOTO | NMG 

Coffee prices declined marginally in last week’s sale even as the auction continued to suffer from a shortage due to wet weather that has hampered drying of the commodity.

A Nairobi Coffee Exchange (NCE) market report indicates a 50-kilogramme bag of coffee on average fetched Sh21,424 down from Sh21,640 in the previous sale.

The auction has been performing dismally since it resumed from recess last month with the NCE citing a shortage.

“The prevailing weather conditions in coffee growing zones have interfered with the drying of the produce and that is the reason why we are not getting enough quality coffee from growers,” said Daniel Mbithi, NCE chief executive.

The sale was suspended trading early this month for two weeks after it was hit by shortage following reduced supplies from farmers.

The new crop from eastern Kenya was expected in the market after it resumed from a one-month break.

advertisement