Coffee Prices Up 3% at the Weekly Auction

Prices at the Nairobi Coffee Exchange (NCE) Weekly Auction increased 3% with overall average price across all grades standing at USS 426.91 per 50kg bag, or $8.5 per kg. This is equivalent to KSh 169 per kg of cherry.

At the auction conducted on Tuesday last week, total volumes traded reached 14,726 bags, weighing 913,199 kg, and generated a total value of US$ 7,797,086.80.

The NCE achieved a maximum price of US$ 538 per 50kg bag for 10 bags of AA grade from Ruarai factory, part of Ruthaka Farmers Cooperative Society in Nyeri County, which also had another 8 bags at $530 and 4 bags at $502. This factory sold 29 bags weighing 1,782 kg, at US$ 470 per kilogram to C Dorman SEZ Limited, with a gross value of US$ 16,750.80.

The same buyer took 10 bags weighing 648kg, at US$ 538 per kilogram valued at US$ 6,972.48. Ruarai factory also sold 12 bags, weighing 72okg, at US$ 423 per 50 kg and valued at 6,091.20 to Ibero Kenya Limited. A total of 582 bags, or 4% of the volume traded, fetched more than $500 per bag ($10 per kg) at the auction.

Farmers cooperative societies that were notable at this auction include Ndaroini with 2 lots — 7 bags at $530 and 3 bags at $518; New Mitamboni in Machakos with 7 bags at $535, 3 bags at $516, 4 bags at $513, and 4 bags at $510 and Mukuyuni Farmers Cooperative Society in Machakos with 23 bags at $525, 6 bags at $513, and 3 bags at $508;

Kangunu in Murang’a sold 11 bags at $525, 20 bags at $523, and 4 bags at $502; Kangeta/Ingento Farmers Cooperative Society in Meru with 5 bags at $534; and Mukengeria in Kirinyaga with 5 bags at $526. Coffee growing estates that fetched good bargains at this auction include Mwithu Estate in Meru with 5 bags at $537, Thithi Farm in Murang’a with 5 bags at $531, and Ayub Bundi Farm in Meru, with 11 bags at $528.