Coffee Auction Records 5% Increase in Prices
The coffee auction at the Nairobi Coffee Exchange recorded a 5% increase in prices, the second time in a row since the auction reopened last week after a one-month break. Latest data indicate that a 50 kg bag is now selling at an average of KSh33, 000 from KSh32, 000 last week, attributed to high demand for the beans by processors. SOURCES: The Kenya wall street.
The coffee auction at the Nairobi Coffee Exchange (NCE) recorded a 5% increase in prices, the second time in a row since the auction reopened last week after a one-month break.
Latest data indicate that a 50kg bag is now selling at an average of KSh33,000 from KSh32,000 last week, attributed to high demand for the beans by processors.
AA grade fetched the highest prices with 1,163 bags of the grade offered at KSh 57.4 million. The average price for the AA coffee was quoted at KSh39,000 representing a 5.4% increase from last week’s auction.
SB coffee fetched the lowest price at the coffee auction with a 50kg bag retailing at KSh10,000 with only 83 bags traded.
Cumulatively 10,565 bags were offered at the auction, trading at an average ofKSH33,000 per 50kg bag, and earning farmers KSh434 million.
SOURCES: The Kenya wall street
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