Successful Auction at Nairobi Coffee Exchange Nets Sh. 1.78 Billion

The Nairobi Coffee Exchange auction saw the sale of 33,435 bags for Sh. 1.78 billion, marking an increase from the previous auction. Average prices rose to Sh. 43,512 per bag, with Githembe coffee factory achieving the highest price for grade AA coffee. Alliance Berries Ltd led in sales volume, and the auction demonstrated strong demand for premium grades, underscoring the commitment to quality within the Kenyan coffee market.

During the most recent auction at the Nairobi Coffee Exchange (NCE), a total of 33,435 bags of coffee were traded, generating an impressive Sh. 1.78 billion in revenue. This volume represents a significant increase from the previous week’s sale of 18,874 bags. The average price per 50-kilogram bag also saw a rise, reaching Sh. 43,512, compared to Sh. 43,253 from the prior auction.

Among the notable performers, Githembe coffee factory, part of the Thiririka Farmers’ cooperative in Kiambu, achieved the highest price by selling 26 bags of grade AA coffee at Sh. 53,354 each, facilitated by Alliance Berries Ltd. Other factories that secured high prices for their grade AA coffee included Guama at Sh. 52,577, Marumi at Sh. 47,656, and Irugu ini at Sh. 50,246, among others, with transactions also handled by Alliance Berries Ltd and Kirinyaga Slopes Company.

The sale of premium grades AA and AB accounted for 26,716 bags, constituting 80 percent of the total volume sold. Alliance Berries Ltd led in coffee sales by volume, selling 15,973 bags, which resulted in revenues of Sh. 878.76 million. Other key contributors included Kirinyaga Slopes Company with 4,310 bags at Sh. 227.75 million and new KPCU with 3,439 bags netting Sh. 179.5 million.

The auction attracted 20 buyers, with C. Dormans leading by acquiring 7,531 bags for Sh. 415.5 million, followed by Kenyacof Limited with 6,449 bags at Sh. 364.8 million. Additional buyers included Ibero Kenya Limited and Taylor Winch, contributing to the diverse trading landscape.

In her statement, NCE Chief Executive Officer Lisper Ndung’u highlighted the successful auction, noting the impressive prices for various coffee grades. She emphasized that the high volume of premium grades presented showcases the coffee market’s growth and reflects the agricultural community’s dedication to maintaining quality standards. Ndung’u concluded by stating that this performance underscores the favorable conditions that enable Kenyan coffee to secure competitive prices on the global market.

The recent auction at the Nairobi Coffee Exchange demonstrated significant growth in coffee trading, with a total of 33,435 bags sold for Sh. 1.78 billion. The increase in both volume and average price per bag indicates robust demand for quality Kenyan coffee. Stakeholders in the coffee supply chain, including producers and brokers, continue to showcase their commitment to high standards, further enhancing the market’s overall performance.

Original Source: www.kenyanews.go.ke