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Commodities

Coffee price trend stays up after rise at auction

Daniel Mbithi
Nairobi Coffee Exchange CEO Daniel Mbithi. FILE PHOTO | NMG 

The price of coffee improved marginally in this week’s trading to maintain an upward trend started July after the auction resumed from a month recess.

Nairobi Coffee Exchange (NCE) indicates a 50-kg bag of the beverage fetched Sh10,300 this week up from previous Sh10,197.

Officials at the NCE had earlier hinted the good prices would be sustained if the global sales maintain the current level with good beans from farmers.

The price at New York Coffee Exchange has shot to a high of 106 US cents per pound from previous 90 cents’ low. Kenya sells more than 95 percent of its coffee in the international market, which determines the value of the crop locally.

“New York registered high prices this week, which helped to lift up the value of the local commodity,” said NCE chief executive Daniel Mbithi.

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