Coffee prices dropped six percent in the latest auction as the short-term crop from eastern Kenya dried off at the weekly trading.
A market report by the Nairobi Coffee Exchange (NCE) indicates the price of a 50 kilogramme bag on average declined from Sh17,952 to Sh16,830 in Wednesday’s auction.
NCE chief executive officer Daniel Mbithi said the crop that has been sustaining the auction since October is now coming to an end but expects some volumes to trickle in from western Kenya in the coming days.
“The short-term crop mainly from eastern Kenya is coming to an end at the auction as we are now getting few bags from the region,” said Mr Mbithi.
He said the main crop from central Kenya is expected from next month. This is expected to boost the price, which mainly thrives on quality.
“The crop is currently being picked in central Kenya and if the weather will be favourable, then it can come to the market before we go on recess,” he said.
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Note: The results are not exact but very close to the actual.
