Market News

Coffee price continues on upward trend at NCE

mbithi

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

Coffee prices at the weekly Nairobi auction rose by Sh32 a bag to maintain a good streak registered since the beginning of the year.

A market report by Nairobi Coffee Exchange (NCE) shows that the price of a 50 kilo bag rose from Sh24,411 to Sh24,443 on Tuesday, marking the highest value realised since 2017.

The continued high prices have been occasioned by high quality beans from the main crop season in central Kenya.

According to NCE, the price is expected to firm up further as more quality beans from the region hit the market.

“We expect the prices to firm up in the coming sales because we are getting a good crop from farmers,” said Daniel Mbithi, NCE chief executive officer.

READ: Coffee price rises to one year high on better quality

Coffee prices dropped 13 per cent in the four months to January as low international prices and delay in beans getting to the market at the end of last year affected revenue.

Data from the NCE indicates that earnings dropped from Sh5.5 billion ($55 million) in October last year to Sh4.7 billion ($47 million) in the period under review.