Nairobi Coffee Exchange said the price this week decreased to Sh36,160 from Sh37,290 for a 50 kilogramme bag, ending two consecutive rallies.
The price gains witnessed in the previous sales were boosted by an increase in quality beans that are streaming into the auction and a steady international price.
The value of Kenya’s top-grade coffee-AA dropped to Sh40,906 in this week’s sale down from Sh42,714 realised during an earlier trading that a 50-kilo bag fetched at the auction.
The weekly coffee prices at the auction declined this week to reverse the gains realised in the previous sales.
Nairobi Coffee Exchange said the price this week decreased to Sh36,160 from Sh37,290 for a 50 kilogramme bag, ending two consecutive rallies.
The price gains witnessed in the previous sales were boosted by an increase in quality beans that are streaming into the auction and a steady international price.
The value of Kenya’s top-grade coffee-AA dropped to Sh40,906 in this week’s sale down from Sh42,714 realised during an earlier trading that a 50-kilo bag fetched at the auction.
Grade AB recorded a marginal decline in value to attain Sh37,177 from Sh37,629 that it fetched previously.
The auction has been receiving high-quality coffee from central Kenya since November last year, supporting prices at the auction in the last three months.
The volume of coffee at the auction this week increased to 30,637 from 29,000 bags of 50 kilos in the previous sale.
Monthly coffee earnings rose to a record $50 million (Sh5.6 billion) in December as Kenya reaped from the frost that destroyed the crop in Brazil and the civil wars in Ethiopia, reducing supplies in the world market.
NCE said the earnings jumped 117.3 percent from $23 million (Sh2.6 billion) in the corresponding month a year earlier, buoyed by the challenges suffered by the two leading producers.
Brazil, which is the top world supplier, produces up to 60 million kilos of the beverage every year but the harsh weather conditions saw the Latin American nation lose up to 20 percent of its entire crop this season.
