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Coffee prices rose marginally in Kenya, pushed by high demand for the top-grade beans at the global auction. Kenya’s top-grade coffee AA fetched US$217 (Sh26,571) per 50-kilogramme bag in the latest sale, registering an increase of US$192 (Sh23,510) against the previous trading
Coffee prices rose marginally in Kenya, pushed by high demand for the top-grade beans at the global auction. Kenya’s top-grade coffee AA fetched US$217 (Sh26,571) per 50-kilogramme bag in the latest sale, registering an increase of US$192 (Sh23,510) against the previous trading.
This helped raise the overall price of the commodity to US$180 (Sh22,041) from US$178 (Sh21,796) as ruled during the previous auction. This is the first time in the last month that the price of the beverage has gained. It showed a lackluster trail during the last four sales.
The poor performance was attributed to a surge in production in Brazil, the world’s top producer.The local prices have also been hit by falling international prices that have now stood at US$1.61 from US$1.9 per pound in October.
Kenya sells over 95 percent of its coffee to the world market and the international prices are used as a benchmark for the local price at the Nairobi Coffee Exchange. Favourable weather in Brazil has prompted coffee tree flowering and is set to continue over the coming months.
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The total value of grade AA coffee jumped to US$446,840 up from US$377,539 in the previous sale. The total bags offered for sale grew marginally to 8,967 bags of 50 kilos from 8,663 in the previous sale.
