General

Coffee nets Sh372 million during this week’s NCE auction

Coffee farmers have earned Sh. 372 million after selling 9,030 bags equivalent to 562,266 kilos of cherries during Tuesday’s auction at the Nairobi Coffee Exchange (NCE).

During the auction that attracted 10 brokers, a bag of 50 kilos of cherry was sold at an average of Sh. 31,247.

Mbee Factory, allied to Mitaboni Cooperative Society in Machakos County, got the best price after selling 56 bags of coffee equivalent to 3,391 kilos of grade AA at Sh 40,824 per bag.

Kaukiswa Factory under Kambusu Cooperative Society got the second-best price of Sh40,506 for a bag of their AA grade.

Gachuiro and Kapsaos Toremo factories, which traded their coffee through Alliance Berries Limited, achieved the third highest price of Sh38,892 for their 197 bags of AA grade.

Grades AA and AB of coffee presented for auction accounted for 5,170 bags, representing 57 per cent of the total volume traded.

Ten brokers that participated in this sale include New KPCU, Alliance Berries, Kirinyaga Slopes, Meru Union, KCCEMA, Kiambu Coff
ee, United Eastern Kenya Coffee, Minnesota CEBBA, Baringo Kawa, and Kipkelion.

In the category of brokers, New KPCU traded the highest volume of 2,105 bags equivalent to 131,906 kilos at Sh. 87.35 million.

Alliance Berries Ltd. came in second after selling 1,992 bags of cherry at Sh. 82.308 million, while Kipkelion Broker Company Ltd. sold 1,320 bags of cherry at Sh. 55.44 million.

Baringo Kawa sold 34 bags for Sh13, 67,625; Coffee Estates Bourgeoisie Brokers Limited sold 261 bags for Sh10, 467,346, KCCE 993 bags for Sh39, 988,910, among others.

Fourteen buyers participated in the auction, where Ibero Kenya Ltd. bought the highest volume of 2,702 bags equivalent to 168,585 kilos at Sh. 107.2 million.

Luis Dreyfus Company bought 1,677 bags of cherry at Sh. 63.5 million, and C. Dorman Ltd. purchased 1,225 bags at Sh55.34 million.

NCE Chief Executive Officer Lisper Ndungu said buyers are interested in the quality of coffee presented in the auction.

She called upon leaders of 619 cooperative societies whic
h present their coffee in the auction to consider producing cherries of premier quality.

‘Both the local and international buyers are much after the best quality of coffee presented in the auction, thus the need for the leaders of various cooperative societies to encourage their farmers to engage in recommended coffee farming practices,’ she said.

Speaking to KNA via phone, Kenya Coffee Producers Association (KCPA) Chairman Peter Gikonyo said the farmers are interested in achieving the best prices in the market.

‘Our aim is to ensure farmers earn better returns from their produce, and as an association, we have been holding meetings with the farmers across the counties encouraging them on the production of better quality,’ said Mr. Gikonyo.

Source: Kenya News Agency