Market News

Coffee price drops marginally as quality beans trickle into market

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

Coffee prices at the Nairobi weekly auction dropped marginally in this week’s sale as quality beans from central Kenya trickled slowly into the market.

Nairobi Coffee Exchange (NCE) data shows a 50 kilogramme bag traded at an average Sh19,467 down from Sh19,897 recorded previous Tuesday.

The NCE said even with the decline, the prices are still good given that there haven’t been plenty of good coffee at the auction.

NCE chief executive officer Daniel Mbithi said the price is expected to improve in the coming sales after quality crop hits the market in good.

The auction has been experiencing a shortage of good quality crop in the recent days forcing trading to be suspended to accumulate enough crop to sustain the sale.

“We expect the prices to improve significantly once we start getting more of the quality coffee from central Kenya,” said Mr Mbithi.

Coffee earnings as at the end of August rose 10 per cent on high demand from roasters in the wake of a shortage caused by drought in the first quarter of the year.