Nairobi Coffee Exchange said the price this week increased to Sh35,700 from Sh34,917 in the previous sale for a 50 kilogramme bag.
The rally in value was boosted by an increase in quality beans in the latest auction and a stable international price in the global market.
Kenya’s top-grade coffee-AA increased to a price of Sh41,697 from Sh39,550 that a 50-kilo bag fetched at the auction last week.
The weekly coffee prices at the auction rallied for the first time in a month to end a streak of losses witnessed in January, helped by an increase in the value of Kenya’s top-grade produce.
Nairobi Coffee Exchange said the price this week increased to Sh35,700 from Sh34,917 in the previous sale for a 50 kilogramme bag, marking the first time that the value of the commodity has rebounded in the last one month.
The rally in value was boosted by an increase in quality beans in the latest auction and a stable international price in the global market.
Kenya’s top-grade coffee-AA increased to a price of Sh41,697 from Sh39,550 that a 50-kilo bag fetched at the auction last week.
Grade AB, which is ranked second in terms of the quality fetched Sh36,273 from Sh34,239 in the previous sale.
The auction had been receiving high-quality coffee from central Kenya since November last year, coming as a major boost to prices at the auction.
The volume of coffee at the auction this week dropped to 26,314 bags from 29,000 bags of 50 kilo each 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.
