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Commodities

Wet conditions disrupt coffee auction at the NCE

Daniel Mbithi
NCE chief executive officer Daniel Mbithi. FILE PHOTO | NMG 

The Nairobi Coffee Exchange (NCE) failed to trade this week as the prevailing wet conditions in the country hampered delivery of the crop to the auction.

NCE chief executive officer Daniel Mbithi says the ongoing rains in eastern Kenya affected drying of beans, hence it could not be delivered to the auction.

Mr Mbithi says the auction will now be held once a fortnight until the situation improves.

"We could not trade this week because we did not get enough beans to sustain the auction," he told told the Business Daily yesterday.

This comes just a week after the auction resumed from a one-month annual recess after taking a break in June. Coffee is normally traded every Tuesday at the Haille Selassie-based auction where traders meet to make bids.

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The auction is expecting crop from eastern and western parts of the country to sustain the trade until December when the main crop from central Kenya starts hitting the market.

Before the recess, the commodity was performing dismally as the quality offered for trading declined with the main crop season coming to an end.

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