Wednesday, September 27, 2023

Kenyan coffee price up 14pc after hitting bottom

More articles

[divider style=”solid” top=”20″ bottom=”20″][dropcap]T[/dropcap]he price of Kenyan coffee rebounded this week after declining to the lowest point year-to-date in the previous trading.

A market report by the Nairobi Coffee Exchange (NCE) indicates that a 50-kilogramme bag of coffee fetched Sh8,800 this week up from Sh7,700 last week, representing a 14.2 percent. The marginal improvement is attributed to improved quality of beans this week compared with the previous sale.

The trading also saw Kenya’s premium coffee grade AA maintain the same value this week at Sh10,100, the same price it fetched last week.

Low quality coupled with depressed international prices of the commodity in the world market has been pushing down the value of coffee at the auction in the last two months.

The price of coffee in the world market has gone below 90 cents per pound this week from a high of 113 in November.

Kenya exports about 95 per cent of the coffee produced locally, making it vulnerable to price volatility.

Also Read

Oxford University announces breakthrough on global COVID-19 vaccine

Ford Southern Africa banks on massive 13. 5 MW to go 100 percent green


Please enter your comment!
Please enter your name here