A total of 14,319 bags of coffee drawn from various cooperative societies and estates traded at Nairobi Coffee Exchange (NCE) auction on Tuesday netted Sh. 938 million.
The earnings at Sale 38 of the current coffee year saw a 45 percent increase compared to the earnings obtained during last week’s auction.
The volume of coffee presented by brokerage companies for auctioning was higher than last week’s auction, which saw 9,886 bags of coffee traded.
Moreover, the average price across all grades rose to Sh52,957 per 50-kilogramme bag, equivalent to Sh163 per kilogram of cherry (gross), marking a 2 percent increase from Sale 37.
For instance, According to NCE reports, the top price recorded was Sh. 64,840 per bag of eight bags of grade AA coffee from Kithima Factory which is part of Mitaboni Farmers’ Cooperative Society of Machakos County.
Gachuiro factory under Kiama Farmers’ Cooperative Society in Nyeri earned second best price after selling 25 bags of grade AA at Sh. 64,711 per bag.
Meanwhile, ten bags of grade AA from Gakuyu-ini factory under Thirikwa Farmers’ Cooperative Society in Kirinyaga County netted Sh64,582 per bag. Whereas, Ten brokers participated in the auction with Alliance Berries Ltd selling the highest volume of 4,759 bags netting Sh315.7 million.
On the other hand, Kirinyaga Slopes Coffee Brokerage Company Ltd sold 2,550 bags earning Sh. 166 million; New KPCU traded 2,246 bags at Sh. 150 million while United Eastern Kenya Coffee Marketing Co. Ltd sold 1,133 bags earning Sh. 72 million.
In the category of buyers, five dealers handled 12,456 bags translating to 87 percent of the total coffee traded during the auction.
Ibero Kenya Ltd purchased the highest volume of 4,245 bags worth Sh. 276.8 million, followed by Kenyacof Limited which bought 4,245 bags at Sh. 205.2 million. C.Dormans SEZ Ltd secured 2,834 bags for Sh.194.9 million, while Taylor Winch (Coffee) limited bought 1,568 bags for Sh.103.6 million.
The recent increase in farmers’ earnings due to the improved quality of coffee traded at the NCE auction.
Lastly, Key coffee sector players are urging cooperative societies to support farmers in producing premium coffee, which is highly sought after by international buyers.
By Bernard Munyao
