The price of coffee rose marginally at the weekly sale but remained within a low range with Nairobi Coffee Exchange (NCE) blaming the poor performance on falling quality.
An NCE report indicates a 50-kg bag of coffee on average fetched Sh9,300 down from Sh8,600 recorded last week.
The volumes offered for sale this week were slightly better in quality than the previous trading.
The NCE said demand for coffee was down during the sale because of the quality with most of the beverage failing to attract bids during the auction.
“Average prices from sale 33 have mainly been affected by low quality coffee coming to the auction as we near the close of the main crop season. Only 700 bags of 21,149 bags equivalent to four percent went for no bids,” said the NCE.
The main crop from eastern Kenya is coming to an end resulting in low-quality beans.
Low quality and depressed global prices have been pushing down the value of coffee at the auction in the last four months.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
