Nairobi Coffee Exchange (NCE) said the price this week decreased to Sh32,996 from Sh36,160 that was recorded in the previous sale for a 50 kilogramme bag.
The decline is attributed to lower value that the premium grades fetched during the auction held on Tuesday.
The value of Kenya’s top-grade coffee-AA also dropped to Sh38,759 from Sh40,906 realised during an earlier trading that a 50-kilo bag fetched at the auction.
The weekly coffee prices at the Nairobi auction declined by the largest margin since January to reverse the gains realised in the previous sales.
Nairobi Coffee Exchange (NCE) said the price this week decreased to Sh32,996 from Sh36,160 that was recorded in the previous sale for a 50 kilogramme bag, coming as bad news to farmers who could be staring at reduced earnings.
The decline is attributed to lower value that the premium grades fetched during the auction held on Tuesday.
The value of Kenya’s top-grade coffee-AA also dropped to Sh38,759 from Sh40,906 realised during an earlier trading that a 50-kilo bag fetched at the auction.
Grade AB recorded the largest decline in value this week with a 50 kilo bag declining to Sh32,996 from Sh37,177 that it fetched previously.
The rally witnessed in the previous sales was boosted 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, coming as a major boost to prices at the auction in the last three months.
The volume of coffee at the auction this week decreased to 28,115 bags from 30,637 bags 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.
