Coffee yields from various cooperative societies and estates in the country have continued to fetch impressive prices over the last two weeks in a row at the Nairobi Coffee Exchange.
On Tuesday, 25, 180 bags of coffee availed by more than 1, 000 cooperative societies netted Sh1.015 billion at the auction.
The amount was a drop from that of last week where coffee farmers earned a total of Sh1.058 billion after trading 26, 449 bags of coffee.
During this week’s auction, some 6, 742 bags of grade AA presented in the auction fetched Sh308.47 million while another 11, 124 bags of grade AB earned Sh308.47 million.
Among the nine brokers which participated in the NCE, Alliance Berries Ltd traded the highest volume of coffee where it sold 9, 027 bags at Sh308.47 million. This translated to 36 percent of the coffee sold on the day.
Alliance Ltd was followed by Kirinyaga Slopes Brokerage Company Ltd which sold 5, 384 bags translating to 21 percent earning Sh203.64 million and the New Kenya Planters Cooperative Union earned Sh217.27 million for 5, 209 bags it presented for auction.
Konyu factory which is part of Kabare farmers’ cooperative society in Kirinyaga traded their 96 bags of grade AA through Alliance Berries Ltd at the highest price of Sh60, 970 per bag.
Other factories that fetched impressive prices include Iyego of Murang’a County which sold 36 bags of grade AA at Sh50, 518 per bag and Kiunyu factory of Kirinyaga which sold 51 bags of grade AA at Sh45, 828 per bag.
A total of 17 buyers participated in the auction with the Kenyacof Ltd buying the highest volume of coffee totaling to 5, 934 bags equivalent to 363.46 kilos at Sh244.99 million.
C. Dormans Ltd bought 5,127 bags of coffee at Sh234.7 million followed by Ibero Kenya Ltd which produced 3,578 bags at Sh136.7 million.
Commenting on the auction the NCE Chief Executive Officer Lisper Ndung’u observed that in the auction, 71 percent of the produce delivered accounted for 17,866 bags of AA and AB that were bought at a total of Sh765.2 million.
She noted farmers affiliated to Konyu, Iyego and Kiunyu, based in Kirinyaga and Murang’a counties, achieved the highest prices in the auction market as they produced high quality coffee.
“Demand for the premier grades has been on the rise, thus the need for the farmers to be encouraged to continue producing high quality coffee to attract more local and international buyers,” said Ms Ndung’u.
By Bernard Munyao
