Data from the Nairobi Coffee Exchange (NCE) shows the market recorded a turnover of $6.06 million (Sh695 million) this week when compared with $7.9 million (Sh906 million) that was witnessed last week.
Prices of the commodity have been weighed down by an increase in supply of low quality coffee in the market that attract reduced prices from buyers.
The price of Kenya’s top-grade coffee improved marginally during the latest auction but failed to lift the overall earnings as other categories recorded much lower prices.
Coffee earnings declined 23 percent in this week’s auction as the beverage continues to record dismal performance.
This comes in the wake of increased supply of inferior quality beans.
Data from the Nairobi Coffee Exchange (NCE) shows the market recorded a turnover of $6.06 million (Sh695 million) this week when compared with $7.9 million (Sh906 million) that was witnessed last week.
Prices of the commodity have been weighed down by an increase in supply of low quality coffee in the market that attract reduced prices from buyers.
The price of Kenya’s top-grade coffee improved marginally during the latest auction but failed to lift the overall earnings as other categories recorded much lower prices.
A 50-kilo bag of Grade AA earned $313 (Sh35,854) from $303 (Sh34,708) in the previous sale while AB fetched $268 (Sh30,699), up from $258 (Sh29,553) last week.
The overall earnings at the auction this week declined to $232 (Sh26,575) from $245 (Sh28,064) in the previous sale to extend a streak of poor performance recorded in the last five sales.
The price of coffee has been declining in the last one month to below the $300 (Sh34,365) mark that the market has been recording since the beginning of the crop year in October 2021.
This week, the volume of coffee offered for sale decreased to 21,258 from 26,170 bags of 50 kilos in the previous trading.
Higher prices seen earlier had been supported by an increase in quality beans that have been streaming at the auction and a steady international price.
