Coffee earnings at weekly auction jump to Sh869 million

Coffee traded at the Nairobi Coffee Exchange (NCE) auction netted Sh869 million after sales of 17, 293 bags of cherry.

The realized amount was an increase compared to Sh637.1 million which was earned after the sale of 12, 144 bags of coffee during last week’s auction.

At an average, a bag of 50 kilograms of cherry was sold at Sh40, 922 which equals to Sh125 per kilo at the trading floor.

During the auction that attracted 15 local and international buyers, Gicherori Factory from Embu County earned the best price after realizing Sh54, 519.50 per bag of grade AA.

The factory which is part of Kibugu Farmers’ Cooperative Society sold a total of 702 bags of grade AA coffee.

Premium coffee of grades AA and AB accounted for 12, 578 bags representing 73 percent of the total volume traded in the auction.

Ten Brokers participated in the auction led by Alliance Berries which traded 6, 767 bags at Sh358.9 million.

Kirinyaga Slopes Coffee Brokerage Company sold 2,032 bags of coffee realizing Sh103.7 million, New KPCU sold 1,991 bags at Sh100.9 million and Minnesota Coffee Marketers Ltd traded 1,742 bags at Sh87.9 million.

In the category of buyers, Sasini Kenya Ltd bought the highest volume of coffee after purchasing 5, 460 bags at Sh295.3 million, followed by Taylor Winch Ltd which purchased 3, 038 bags at Sh163.5 million. Ibero Kenya Ltd acquired 3,488 bags at Sh158 million.

NCE chief executive officer (CEO) Lisper Ndung’u said there was an increase of premium grade coffee in the auction.

During last week’s trade, only 7, 300 bags of grade AA and grade AB were traded as compared to this week’s 12, 578 bags.

Ms Ndung’u lauded farmers for heeding calls for producing high quality coffee saying the premium grades fetched best prices.

She called on farmers’ cooperative societies to support and educate farmers on best practices of producing high quality coffee which attracts international buyers.

“The leadership of NCE appreciates the farmers for the continued production of the quality coffee at the auction,” said Ms Ndung’u.

By Bernard Munyao