Market News

Coffee earnings up by Sh2bn in July on scarcity

A farmer tends her coffee crop at Githiru village in Nyeri county. FILE PHOTO | NMG
A farmer tends her coffee crop at Githiru village in Nyeri county. FILE PHOTO | NMG  

Coffee earnings increased by Sh2 billion last July on high demand from buyers following a shortage of the crop at the auction.

Data from Nairobi Coffee Exchange (NCE) shows the crop earned Kenya Sh14.3 billion compared with Sh12.2 billion realised in the corresponding month last year, representing a 17 per cent growth.

The volume of coffee offered for sale at the auction in July was 29.3 million kilogrammes against 31.3 million kilogrammes supplied at the same time last year.

“Better prices were realised in July this year resulting from high competition as traders competed for the little volumes available at the auction,” said NCE chief executive Daniel Mbithi.