A 50-kilogramme bag increased from a low of Sh13,100 last week to Sh14,600 on Tuesday at the Nairobi Coffee Exchange (NCE).
Kenya’s earnings from coffee dropped by Sh1.3 billion between October and March compared with the same period the previous year, on account of low international prices and reduced volumes at the auction.
Coffee prices at the weekly Nairobi auction increased by 11 per cent this week following a slight improvement on quality of beans.
On average the price of a 50-kilogramme bag increased from a low of Sh13,100 last week to Sh14,600 on Tuesday at the Nairobi Coffee Exchange (NCE).
The value of the Kenyan coffee has been taking a downward trend in the last couple of months after registering impressive results between January and February informed by high-quality bean.
“Different mix of grades improved the quality a little bit, leading to a rise in price this week,” said NCE chief executive Daniel Mbithi.
Mr Mbithi, however, said the prices were still within a low range because of the generally declining quality of coffee at the auction.
The coffee that has been trading at the auction has been coming from the main crop season of central Kenya and is almost finished with the quality expected to pick in July on arrival of the short crop from eastern Kenya.
Kenya’s earnings from coffee dropped by Sh1.3 billion between October and March compared with the same period the previous year, on account of low international prices and reduced volumes at the auction.
The coffee is majorly traded at the New York Coffee Exchange and any change in price affects the local sales.
The country is seeking to raise the amount of coffee roasted locally from five to 10 per cent annually over the next five years even as production remains low.
Coffee farmers will start earning part of their dues monthly, down from six months after the regulator started piloting the new payment system that aims to woo growers back to the once vibrant crop.
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