By B, KNA
With the 2024/2025 coffee year nearing its end, a total of 14, 386 bags of coffee weighing 891,932 kilograms were traded at Nairobi Coffee Exchange (NCE) auction this week generating revenue amounting to Sh850 million.
Average price per bag of 50 kilograms attained in the auction conducted at Ukulima House in Nairobi was Sh47,685, a drop of 14 percent compared to last week’s average price of Sh55,567.
In the 41st sale of the current coffee year, premium AA grade commanded top prices while lower grades such as UG attracted lowest bids.
Eight cooperatives achieved exceptional prices above Sh64, 613 per bag for their AA grade coffee.
Leading the group was Gachuiro Farmers’ Cooperative Society (FCS) from Nyeri County, which fetched the auction’s highest price of Sh68, 360 for each of 19 bags of grade AA coffee.
Other cooperatives that attained better prices for their grade AA coffee include, Kiama of Nyeri County which sold 13 bags at Sh67, 456 per bag and Uchuga FCS with 15 bags that fetched Sh66,164 per bag.
Fifteen brokers participated in the auction with Alliance Berries Ltd leading the market after trading 4,463 bags at an average of Sh50, 010 per bag. Kirinya Slopes Coffee Brokerage Co.Ltd traded 1,850 bags at an average of Sh47,555 per bag.
New KPCU sold 1,752 generating an average price of Sh47,550 per bag while Minnesota Coffee Marketers Ltd sold 1,324 bags at an average of Sh46,392.
According to an NCE report, five leading dealers purchased 80 percent of the coffee volume presented for auction.
Kenyacof Ltd bought 3,126 bags equivalent to 20.5 percent of total volume at Sh175.2 million, Ibero Kenya Ltd purchased 3,002 bags at Sh162.4 million, C.Dormans SEZ Ltd spent Sh158.5 million on 2,494 bags of coffee and Taylor Winch Coffee Ltd got 1,874 bags at Sh104.6 million.
The last auction for the current coffee year is expected to be conducted on Tuesday next week with various stakeholders toasting better prices which have been realized in the 2024/2025 season.
A Murang’a coffee farmer, Peter Gikonyo told KNA that NCE auction has been registering impressive prices in the coffee year 2024/2025 which commenced in October last year.
Gikonyo said various cooperative societies have supported farmers to produce high quality coffee thus attracting international buyers.
He attributed the impressive prices to improved quality of cherry being auctioned, urging farmers to focus on increased production and quality.
“Better coffee quality usually fetches high prices as international buyers flock to the auction. It’s a challenge to us farmers to ensure we produce high quality coffee as well as increase the volumes,” Gikonyo remarked.