Latest market report from the Nairobi Coffee Exchange (NCE) shows that grade AA –the country’s top grade fetched $303 (Sh34,684) down from $279 (Sh31,937) in the previous auction for a 90 kilo bag.
There are 15 grades of coffee that trade at the exchange with each fetching a different price based on the quality of the beans.
The price of top-grade coffee normally plays an important role in the overall earnings of the commodity at the auction as it lifts the value of other lower grades.
Kenya’s highest quality coffee gained marginally in this week’s trading as nearly all other grades recorded lower prices to stagnate the overall earnings during this week’s sale.
Latest market report from the Nairobi Coffee Exchange (NCE) shows that grade AA –the country’s top grade fetched $303 (Sh34,684) down from $279 (Sh31,937) in the previous auction for a 90 kilo bag.
Meanwhile, grade AB was sold at $258 (Sh29,533), down from $261 (Sh29,876).
The average price for the commodity remained unchanged at $245 (Sh28,045).
There are 15 grades of coffee that trade at the exchange with each fetching a different price based on the quality of the beans.
The price of top-grade coffee normally plays an important role in the overall earnings of the commodity at the auction as it lifts the value of other lower grades.
The volume of coffee offered for sale this week decreased to 26,170 from 29,704 bags of 50 kilos in the previous trading.
The price of coffee has been declining in the last one month to below the $300 (Sh34,341) mark that the market has been recording since the beginning of the crop year in October 2021.
Higher prices that were seen earlier had been supported by an increase in quality beans that have been streaming at the auction and a steady international price.
The auction has been receiving high-quality coffee from central Kenya since November last year, supporting overall prices at the auction in the last five months.
Supply of high-quality coffee has started dwindling at the auction. This has increased the weight of relatively lower quality beans in determining the overall auction prices, pulling them down.
Monthly coffee earnings rose 62.5 percent to $130 million (Sh14.8 billion) in February, helped by a global shortage due to a bad crop in Latin America.
