Coffee weekly auction nets Sh1.01 billion

A total of 21,636 bags of coffee, equivalent to 1,333,429 kilograms, offered for auction at the Nairobi Coffee Exchange (NCE) netted Sh1.01 billion, compared to last week's sale number 3, in which 17,442 bags weighing 1,070,856 kilograms, worth Sh879 million, were traded.

A total of 21,636 bags of coffee, equivalent to 1,333,429 kilograms, offered for auction at the Nairobi Coffee Exchange (NCE) netted Sh1.01 billion, compared to last week's sale number 3, in which 17,442 bags weighing 1,070,856 kilograms, worth Sh879 million, were traded.

In the auction conducted, the average market price stood at USD 294.26 (Sh38,236) per 50 kg bag, with the highest price reaching USD 398.00 (Sh51,726) and the lowest standing at USD 40.00 (Sh5,197) per 50 kg bag.

New Kenya Planters Co-operative Union PLC (New KPCU) handled 4,962 bags weighing 305,088 kg. Its coffee recorded an average price of USD 291.52 per 50 kg bag, with a total portfolio value of USD 1.7 million (Sh220,898).                       

In the category of buyers, Ibero Kenya Ltd led the pack with 4,817 bags, followed by Kenyacof Ltd 3,340 bags).

Other buyers are C. Dorman’s SEZ Ltd (2,748 bags), Louis Dreyfus Company (2,575 bags) and Sasini (K) Limited with 2,120 bags

Coffee of premium grades of AB recorded the highest trading volume, with 9,300 bags sold at an average price of USD 323.36 (Sh41,956) per 50 kg bag.

Grade AA achieved the highest average price of USD 339.90(Sh44,102) per 50 kg bag, with 4,360 bags traded. The auction’s highest individual price reached USD 398.00(Sh51,641).

Other notable grades performance is C: 2,747 bags (USD 293.96 per 50 kg,) bag T564 bags (USD 178.77 per 50 kg bag), UG2 337 bags (USD 97.06 per 50 kg bag), UG1: 577 bags (USD 232.15) per 50 kg bag, TT 262 bags (USD 271.17) per 50 kg bag, PB 871 bags (USD 351.09) per 50 kg bag.  Grades AA and AB led the auction, accounting for more than 55 per cent of the total volume traded.