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Commodities

Coffee up 66pc as auction takes break

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

The Kenyan coffee recorded a 66 percent price jump in the last sale before the auction takes a one-month break on good quality beans and high demand.

Nairobi Coffee Exchange (NCE) indicates a 50-kilo bag on average fetched Sh19,292 up from Sh11,554 in the previous trading, the highest increase recorded since the beginning of the year.

NCE attributed the increase to a surge in demand and high-quality coffee during the auction as the weekly trading prepares to go on a recess, forcing buyers to purchase more stocks for future.

“We got a sizeable number of lots with good quality, which spiked the prices at the auction in this week’s sale,” said Nairobi Coffee Exchange chief executive Daniel Mbithi.

The value of Kenyan coffee has been declining in the last one month as the auction experienced a decline in quality of beans with the main crop season coming to an end.

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The main season normally begins in December and comes to an end around this time when the quality of coffee from central Kenya starts declining.

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