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Quality beans keep coffee prices on an upward trend

Thursday, August 2, 2018 19:08

Coffee prices have continued on an upward trajectory since the auction resumed last month helped by inflows of quality beans.

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

IN SUMMARY

  • A 50-kilogramme bag on average fetched Sh19,600 this week up from previous Sh17,400.
  • This marks the third time in a row the prices have recorded an impressive performance since the resumption from a one-month recess.
  • The NCE said the rally resulted from an increase in volume of quality beans from the short-term crop of eastern Kenya.

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Coffee prices have continued on an upward trajectory since the auction resumed last month helped by inflows of quality beans.

A market report by Nairobi Coffee Exchange (NCE) indicates a 50-kilogramme bag on average fetched Sh19,600 this week up from previous Sh17,400.

This marks the third time in a row the prices have recorded an impressive performance since the resumption from a one-month recess.

The NCE said the rally resulted from an increase in volume of quality beans from the short-term crop of eastern Kenya.

“We expect the current price to hold for a while because of the good coffee that we are getting from farmers,” said chief executive Daniel Mbithi.

The good price comes at a time the auction has been automated, a move expected to increase transparency and efficiency at the NCE.

All the stakeholders — farmers, buyers, marketing agents and government — will now obtain real-time reports from the upgraded system.

Kenya seeks to revive the once-vibrant crop with the formation of Kenya Coffee Platform, an initiative that brings value-chain players together to develop a common strategy to address issues affecting the industry.

READ: Coffee farmers to follow sale live after automation

It will facilitate dialogue via creation of an inclusive and participatory national and county coffee platform representing all coffee stakeholders with a view to doubling the current production of 40,000 tonnes a year.

The Stage will also start paying farmers part of earnings on monthly basis down from six months after the regulator begun piloting a new system.

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