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Commodities

Coffee price rises at auction on improved quality

Nairobi Coffee Exchange chief executive Daniel Mbithi. FILE PHOTO | NMG
Nairobi Coffee Exchange chief executive Daniel Mbithi. FILE PHOTO | NMG 

The price of coffee continued on an upward trajectory last week, rising seven per cent in a series of good performances since the beginning of the year.

A market report by the Nairobi Coffee Exchange (NCE) shows that a 50 kilogramme bag was sold at Sh26,418 up from Sh24,614.

The high price was attributed to better quality beans from Central Kenya coming to the market following delays triggered by wet weather.

“Note that the average price has gone up by $20 per (Sh2,020) for a 50 kilo bag. This is due to better quality coffees streaming to the market.

“It is anticipated that this trend may persist in the next few sales,” said NCE chief executive officer Daniel Mbithi.

Mr Mbithi said last week that the high price trend was expected to continue as more high quality beans from the region stream into the auction in the next two months.

The value of Kenya’s coffee dropped by Sh422 million in the year to December 2017 as low quality beans lowered prices.

The value dropped to Sh2.2 billion last year from Sh2.6 billion the previous year.

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