Nairobi Coffee Exchange Auction Achieves Sh. 1.78 Billion in Sales

The Nairobi Coffee Exchange auction sold 33,435 bags, earning Sh. 1.78 billion, with average prices rising to Sh. 43,512 per bag. Githembe Coffee Factory achieved the highest price for grade AA coffee. Premium grades accounted for 80 percent of sales, with Alliance Berries Ltd leading volumes sold. NCE’s CEO highlighted the robust demand for quality Kenyan coffee.

During the weekly auction at the Nairobi Coffee Exchange (NCE), a total of 33,435 bags of coffee generated revenue of Sh. 1.78 billion, representing a significant increase from the previous week’s 18,874 bags traded. The average price per 50-kilogram bag rose to Sh. 43,512, up from last week’s Sh. 43,253.

Notably, Githembe Coffee Factory, part of the Thiririka Farmers’ Cooperative Society in Kiambu, achieved the highest price for its grade AA coffee. It sold 26 bags at Sh. 53,354 per bag through brokerage by Alliance Berries Ltd. Other competitive prices included Guama at Sh. 52,577, Marumi at Sh. 47,656, and Irugu ini at Sh. 50,246, among others.

The auction revealed that premium grades AA and AB comprised a significant portion of the trades, accounting for 26,716 bags or 80 percent of the total volume. Alliance Berries Ltd led the sales with 15,973 bags, translating to Sh. 878.76 million, while Kirinyaga Slopes Company followed with 4,310 bags sold for Sh. 227.75 million.

In total, 20 buyers participated in the auction. C. Dormans emerged as the leading purchaser, acquiring 7,531 bags valued at Sh. 415.5 million, while Kenyacof Limited bought 6,449 bags at Sh. 364.8 million. Other notable buyers included Ibero Kenya Limited and Sasini Ltd.

Lisper Ndung’u, CEO of the NCE, emphasized the strong results of the auction, highlighting the robust global demand for high-quality Kenyan coffee. She noted that the substantial presentation of premium grades signifies market growth and reflects the commitment of farmers and stakeholders to maintain quality. Ndung’u stated, “The impressive performance in the auction is a testament to the dedication within the supply chain and the favorable conditions enabling our coffee to fetch attractive prices on the global level.”

In summary, the latest auction at the Nairobi Coffee Exchange showcased an impressive performance, with a notable increase in both the volume and average price of coffee bags sold. Githembe Coffee Factory stood out for achieving the highest prices for its grade AA coffee. The auction results reflect the strong demand for Kenyan coffee, underscoring the commitment of local farmers to uphold quality standards, which is essential for sustaining global competitiveness.

Original Source: www.kenyanews.go.ke